- Whale opened a $330M short on ETH and $438M on BTC with high leverage.
- The ETH short used 12x leverage, with liquidation near $4,613.7.
- The whale’s BTC short shows a $3.67M unrealized loss at press time.
A major cryptocurrency whale has made a significant move by opening large short positions in Ethereum (ETH) and Bitcoin (BTC) through the decentralized exchange, Hyperliquid. The trader has bet $768 million against these two cryptocurrencies, using high leverage for both assets.
Whale’s $330 Million Ethereum Short
The whale, identified by wallet address 0x2ea18c23…5923f4, initiated a short position worth $330 million on the Ethereum network. The trade involves 76,242 ETH and was opened with 12x leverage. The entry price for the position was $4,358.17, and the liquidation price is near $4,613.7. According to the latest data, the unrealized profit currently stands at $2.68 million.
The position reflects a bearish view on Ethereum’s short-term price direction. The whale’s large exposure shows confidence in this market move. Funding fees, which currently amount to $6,308, demonstrate ongoing activity in this volatile trade.
Bitcoin Short Position Totals $438 Million
In addition to the Ethereum short, the same whale opened a short position on Bitcoin. The $438 million position is based on 3,600 BTC and was executed with 6x leverage. The entry price for the position was $120,689 per Bitcoin, with the current market price at around $121,708. This has led to an unrealized loss of $3.67 million as of the latest report.
The Bitcoin short highlights the whale’s substantial bet against both ETH and BTC. Although the position is currently in a slight loss, the whale’s overall exposure stands at nearly $768 million. This large-scale short positions both Ethereum and Bitcoin as the trader anticipates further price declines for both assets.
Hyperliquid Gaining Traction with Large Trades
These massive short positions reflect the increasing activity on decentralized exchanges like Hyperliquid. Such platforms offer transparency and enable large traders to take substantial positions without relying on traditional exchanges. As more traders seek decentralized platforms for their high-leverage strategies, platforms like Hyperliquid are experiencing increased usage from institutional traders.
Given the significant size of these positions, other traders are likely watching them closely. With over $768 million in total shorts, the whale’s trades represent some of the largest positions visible on Hyperliquid. These moves underscore the increasing interest in utilizing DeFi platforms for large-scale leveraged trades.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
