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Trader Turns $125K into $29.6M Through ETH Long Positions on Hyperliquid

Longling Capital’s ETH swing trading strategy, involving major buys from Binance and subsequent high-price sales, has yielded $184 million in realized gains since acquisition.

ETH
HYPE

Fact Check
All 13 provided sources consistently corroborate the statement's key details: an initial investment of $125K turning into $29.6M, the use of ETH long positions, and the trading occurring on the Hyperliquid platform. The reports originate from and cite the on-chain analytics firm Lookonchain, which lends high credibility to the claim.
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Summary

Longling Capital sold an additional 5,000 ETH today for $21.56 million. The firm, known for swing trading Ethereum, had acquired 123,405 ETH at an average price of $2,349 from Binance. Over time, it sold 70,800 ETH at an average price of $3,502, realizing $184 million in profit over the past two years.

Terms & Concepts
  • ETH: The native cryptocurrency of the Ethereum blockchain, used for transactions, smart contracts, and as a store of value.