On January 14, on-chain data revealed that a large wallet starting with 0x50b significantly increased its Ethereum (ETH) long position through four consecutive transactions within just two hours. The whale acquired approximately 7,708.58 ETH, bringing the total position value to nearly $25.65 million at current market prices.
High-Leverage Bet Signals Strong Conviction
The account deployed a 14x cross-margin leverage, indicating strong bullish sentiment. Its average entry price was around $3,333.64, slightly above the current mark price of $3,327.30, resulting in a floating loss of about $49,700, or -2.71%. Despite the minor drawdown, the position remains safe with a liquidation price set at $2,770.53—offering substantial downside buffer.
Shift from BTC Bear to ETH Bull?
Interestingly, this address previously held a notable short position on Bitcoin, briefly emerging as one of the largest bearish players on-chain. Its pivot to a major ETH long suggests a strategic rebalancing—possibly reflecting a broader shift in focus from BTC dominance toward the long-term potential of smart contract platforms.
- Accumulation window: Four buys within two hours on January 14
- Total ETH added: 7,708.58 ETH
- Current position value: ~$25.648 million
- Leverage used: 14x cross margin
- Average entry: $3,333.64
- Liquidation price: $2,770.53
As Ethereum's ecosystem expands with Layer2 growth and consistent staking yields, such high-conviction leveraged moves may signal a broader reallocation trend among large investors. Traders and analysts are now watching this address closely for clues on institutional capital flows into ETH.