Big Bet Pays Off: 'Majic' Increases ETH and HYPE Long Positions with $260K in Profit

Strategic Move: Majic Adds to ETH and HYPE Positions with Floating Profit Over $260K

Recent on-chain data reveals a significant move by the well-known investor 'Majic.' According to HyperInsight tracking, he has increased his long positions in both ETH and HYPE, with his account currently showing a floating profit of $269,000.

Breaking down the holdings, his current ETH long is valued at $7.45 million, with an average entry price of $2,046.47. Meanwhile, his HYPE position stands at $1.96 million, with an average cost of $31.90 per token.

Market Analysis: Bullish Signal or Tactical Play?

• ETH Position: $7.45M value, $2,046.47 average entry
• HYPE Position: $1.96M value, $31.90 average entry
• Profit So Far: $269,000

Despite ongoing market volatility, the size of these positions suggests a strong conviction in the long-term outlook of these assets. Notably, the increased exposure to HYPE — a token that has recently gained traction — highlights growing market optimism.

This move not only demonstrates strategic timing but also offers insight into how seasoned investors are positioning themselves. It will be interesting to see how this plays out in the coming weeks.