On February 10, 2024, Onchain Lens revealed a notable blockchain transaction. A newly created cryptocurrency address deposited as much as $1.98 million into the well-known trading platform HyperLiquid.
The wallet owner appears to be highly confident in Ethereum’s (ETH) future price movement, opting for a 20x leveraged long position. According to the data, the average entry price was $2,068, making this move particularly bold in the current market climate.
Industry analysts noted that such a high-leverage strategy could lead to substantial profits or significant losses, especially amid the volatility typical of the crypto market. The trader’s strategy and fund movements are sure to draw market attention in the coming weeks.