According to Hyperinsight's monitoring on January 12, a whale wallet (address 0x93115) entered the market at 14:08 with a leveraged long position. Using 25x leverage, the whale bought 3,477.95 ETH worth approximately $10.96 million at an average price of $3,165.38. As of now, the position is showing a floating loss of around $43,000.
This move has drawn significant attention from the market. Amid increased volatility in the crypto space, taking on such a highly leveraged long position could be interpreted as a strong bullish signal.