Massive Long Bets Draw Market Attention
According to recent on-chain data, two unknown addresses have placed large-scale long bets on Ethereum via the decentralized platform Hyperliquid. As of February 10, their cumulative long positions have surpassed 95,000 ETH, valued at nearly $190 million, sparking significant market interest.
Highly Similar Operational Patterns
Interestingly, both addresses showed multiple similarities in their operations. Notably, they both transferred their margin funds from the Tron network to Arbitrum through cross-chain bridges. This strategic movement highlights the sophistication of the traders and suggests a potential link between the two addresses.
Detailed Positions Breakdown
- Address 0x6C8…D84F6 deposited 21.798 million USDC as margin into Hyperliquid in the past 3 hours, initiating a 20x leveraged long position of 35,164.2 ETH, currently valued at $70.5 million. With an average entry price of $2,044.11, the position is now at a floating loss of approximately $1.245 million.
- Another address, 0xa5B…01D41, holds the largest ETH long position on Hyperliquid. It recently opened a long bet of 60,000 ETH at an average price of $2,059.8, worth $120 million. However, it is now facing a floating loss of $3.12 million.
Market Analysis and Speculation
While no confirmation has been made that the two addresses belong to the same entity, their highly synchronized strategies and operational timing have led many market observers to speculate that this could be the work of a single whale or institutional investor making a bold move. In the current market climate, such a large-scale bullish bet is undoubtedly set to influence investor sentiment.