According to Ember, a large Hyperliquid trader raised an ETH long to 108,000 ETH as earlier paper gains faded, while a separate whale wallet continued accumulating Ethereum to nearly 21,800 ETH.
According to on-chain analyst Ember, a large trader on Hyperliquid added 9,000 ETH to an existing Ethereum long position, bringing total exposure to 108,000 ETH worth about $245 million at an average entry price of $2,271. Ember said the position had previously shown roughly $10 million in unrealized profit, but that gain was nearly erased as Ethereum moved back toward the cost basis. Separately, another large wallet bought 1,500 ETH for about $3.43 million, extending an accumulation trend that began on February 15. Since then, that wallet has spent 46.99 million USDC to acquire 21,800 ETH, though the source does not fully show the reported average purchase price. Together, the updates highlight both leveraged directional exposure and spot-style accumulation by large Ethereum holders.