Ethereum Foundation-linked wallets transferred 4,393 ETH worth $11.13M to Kraken as ETH traded near $2,555. No sale has been confirmed.
A wallet used Hyperliquid price moves and extreme leverage to profit from Papertrade's liquidity pool shortly after the platform launched.
A wallet moved Ether prices on Hyperliquid while holding highly leveraged Papertrade positions. The platform said it tightened open-interest limits after the activity.
ETH options open interest rose 1.63% to $5.92 billion, with calls leading both open interest and 24-hour volume. The $2,750 call on Bybit topped volume.
The transfer was valued at about $11.13 million. The wallets had received 59,800 ETH from the Ethereum Foundation a decade ago.
Ethereum's rebound remains fragile as $2,560 resistance and aggressive Bitfinex longs put buyers under pressure.
The increase exceeded gains of $126.1 million on zkSync Era and $68.7 million on BNB Chain.
Ethereum ETFs lost $542.1 million in their worst week since January, while Solana funds ended a 14-week inflow streak and Bitcoin ETFs shed $681.1 million.
Ether was trading at $2,553 on Binance spot at 12:53 p.m. ET (16:53 UTC) on Oct. 11, up 1.02% from one hour earlier.
Ethereum trades near $2,500 as analysts identify $2,600 resistance and a potential recovery toward $2,700, with downside risks remaining.
TokenPost's three-exchange tally showed $12.28 million in total Ether liquidations as the price rose 1.10% to $2,536.
The liquidation occurred at $2,528 in OKX's ETH perpetual futures market at 11:40 a.m. ET (15:40 UTC) on Oct. 11.