Whale Sells 699 ETH Before Leveraging to Go Long $18M on ETH

On January 30, on-chain data from OnchainLens showed that a long-dormant Ethereum whale took action, selling 699 ETH and converting them into $1.876 million in USDC.

Surprisingly, the whale didn't stop there. It promptly transferred the funds to HyperLiquid and opened a long ETH position worth around $18 million using 20x leverage.

This move demonstrates the whale's strong bullish sentiment toward ETH and has sparked market interest in its strategy.