Lookonchain‑tracked whale swapped about $87 million of Bitcoin for 34,400 ETH and staked it as ether rose above $2,630, its highest level since January, while Ethereum wallet counts hit a record 207 million.
Lookonchain reported that a single on‑chain wallet sold roughly 1,100 BTC on the decentralized platform Hyperliquid over five days, then purchased about 34,400 ETH—valued at roughly $87 million—and staked the entire position. The average purchase price was around $2,500 per ether, below the recent trading level near $2,650, as ether rose above $2,630, its highest price since January, gaining about 3% in the session.
Santiment data showed a record of about 207 million non‑empty Ethereum wallets, with more than 40 million ETH staked and approximately $50 billion locked in DeFi applications. Bitcoin.com News cited a separate wallet that sold 866 BTC for about 26,900 ETH shortly before the September 15 CLARITY Act vote.
The reports do not confirm whether the Hyperliquid transactions were executed in spot markets or via leveraged perpetual contracts, and a single wallet’s activity does not establish a market‑wide rotation. Likewise, the record wallet count measures addresses holding any balance and does not necessarily indicate fresh buying pressure. Staking reduces immediate supply but does not reveal the holder’s intended holding period, leaving the broader demand outlook for ether uncertain.