New Address Deposits $12.88M USDC on Hyperliquid with 20x ETH Leverage Bet

According to newly released blockchain monitoring data from Lookonchain, on February 10, a new wallet address (0x6C85) transferred a massive 12.88 million USDC to the decentralized derivatives trading platform Hyperliquid.

Aggressive Leveraged ETH Long Position

Instead of taking a conservative approach, the address immediately deployed a high-risk strategy using 20x leverage to take a substantial long position on Ethereum (ETH). Current data shows this account now holds a massive $33.38M worth of ETH, representing a total of 16,270 ETH.

• Deposit Amount: $12.88M USDC
• Leverage Used: 20x
• Current Position: 16,270 ETH (approx. $33.38M)

This significant move suggests strong bullish sentiment regarding Ethereum's near-term price trajectory and could spark renewed market interest in Ethereum derivatives trading activity.