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Ethereum Rebounds From $2,100 as Hyperliquid Whales Build Leveraged Long Positions

Fresh on-chain data shows another profitable Hyperliquid whale opening new leveraged BTC and LIT longs while retaining HYPE spot and staked holdings, extending the pattern of concentrated bullish positioning on the platform.

BTC
ETH
HYPE

Summary

Ethereum’s rebound from $2,100 has coincided with continued bullish whale activity on Hyperliquid. Earlier tracked data showed $61.61 million in ETH long positions versus $16.81 million in shorts on March 25, followed by a whale opening 10x leveraged ETH and HYPE longs worth more than $30 million, including 13,380 ETH valued at about $29.29 million and 42,140 HYPE worth about $1.73 million. A new update adds another major trader to that trend: a whale that had earned more than $16.39 million on Hyperliquid opened a 100 BTC 40x long worth $7.09 million and a 1 million LIT 5x long worth $982,000. The wallet, likely linked to NervousDegen, also continues to hold 75,160 HYPE in spot and staking worth about $3.01 million.

Terms & Concepts
  • Hyperliquid: A decentralized trading platform focused on perpetual futures, allowing users to trade crypto with leverage onchain.
  • Long positions: Trades that profit if an asset’s price rises, reflecting a bullish market view.
  • Leverage: Borrowed exposure that lets traders control larger positions than their capital would otherwise allow, increasing both potential gains and losses.