Major ETH Position Shakeup for High-Profile Investor
Recent on-chain insights reveal significant movement in Huang Licheng's Ethereum (ETH) long position. While the trade once showed strong unrealized gains, a market pullback has erased over $2 million in floating profits, marking a sharp reversal in sentiment.
Position Now in Negative Territory
The data indicates an average entry price of $3,138.43 for the ETH long, with the total position valued at approximately $34 million. As prices declined, the trade flipped from profit to loss, now sitting at a floating deficit of $287,000—highlighting near-term market weakness.
Strategic Bet on HYPE Token
In addition to ETH, Huang has taken a $250,000 long position in HYPE at an entry price of $24.40. This dual approach suggests a calculated allocation between established assets and high-potential newcomers amid volatile conditions.
- ETH entry price: $3,138.43
- Current unrealized loss: $287,000
- HYPE position size: $250,000
- Market outlook: cautious short-term, bullish long-term
While the current valuation is underwater, large-scale positions like this often reflect long-term conviction. A breakout above key resistance could reignite momentum and restore investor gains.