An Ethereum whale sold 1,654 ETH for $5.49 million in USDC and deposited it into Hyperliquid to open a 7x leveraged long position worth 11,543 ETH ($38.4 million) with a liquidation price of $2,907.6, according to Lookonchain. This follows earlier activity where the same whale boosted spot ETH holdings to 2,004 ETH worth $6.24 million, opened 20x ETH longs near the $3,115–$3,125 range, and purchased 66.13 BTC valued at $6.01 million. Historical transactions include a December withdrawal of 77,385 ETH worth $219 million, reflecting $23.47 million in unrealized profit.