Dormant Bitcoin Wallet Sells $62M BTC, Buys $99M ETH on Hyperliquid
According to blockchain data, a whale has opened a $17.1 million leveraged ETH long on Hyperliquid, signaling renewed high-risk trading activity.
BTC
ETH
USDC
Summary
A whale who previously rolled a $125,000 ETH long has transferred 740,000 USDC to Hyperliquid and opened a leveraged long position of 4,026 ETH, valued at $17.1 million. The trade was executed at an average entry price of $4,247 with 25x leverage, indicating a shift toward more aggressive trading behavior.
Terms & Concepts
- Long Position: An investment strategy where an individual buys an asset expecting its price to increase over time.
- Hyperliquid: A decentralized perpetual futures exchange facilitating crypto asset trading without intermediaries.
- Leverage: The use of borrowed capital to increase the potential return of an investment, often amplifying both gains and losses.