Major cryptocurrency players are executing high-stakes leveraged strategies, with one Ethereum whale accumulating 32,953 ETH worth $117 million through borrowed funds over five days. According to on-chain analyst @EmberCN, this positions brings their total ETH holdings to 56,000 ETH ($211M) with an average entry price of $3,552.
Simultaneously, a separate whale identified on Hyperliquid has opened $120.8 million in leveraged long positions across four assets: 40x leverage on Bitcoin, 25x on Ethereum, and 10x each on PEPE and HYPE. This trader currently shows $1.17 million in unrealized profits from these positions and holds an additional 501,000 HYPE tokens ($23.35M) with $12.48 million in unrealized gains.
Leverage risks remain significant across both strategies, as amplified losses and liquidation threats could materialize if prices decline toward critical thresholds like ETH's $3,552 entry point. Meanwhile, HYPE is retesting its crucial $44-$45 support zone after recent gains, with technical indicators like the Parabolic SAR and RSI at 62.68 suggesting ongoing bullish momentum.
These whale activities coincide with Hyperliquid's platform growth, which processed $648 billion in Q2 volume and recently enabled EU-based Phantom wallet users direct access to perpetual trading. The exchange now commands over 60% of the perpetual DEX market.