A major cryptocurrency trader, identified as the "1st Day Deposit Whale," has executed one of the largest single-day leveraged trades of early 2026, opening long positions worth $32.62 million across 17 different cryptocurrencies. The positions, held entirely in perpetual contracts, have already generated a floating profit exceeding $3.4 million. The whale's portfolio is diversified, including positions in BTC, STBL, IP, HYPE, XPL, MON, PUMP, TRUMP, GRIFFAIN, VVV, HMSTR, FARTCOIN, HEMI, MAVIA, LIT, STABLE, and AIXBT.
The trader's total account equity is estimated at over $11 million, with approximately $5.88 million in free margin, allowing for position adjustments. The strategy employs a moderate average leverage of 2.8x. This activity follows a separate deposit of $8 million in USDC by the same entity on the first day of 2026, which holds 12 positions and a floating profit of around $2.8 million.
Concurrently, on-chain analytics reveal a significant shift in market dynamics, with whale activity on centralized exchanges reaching its highest level in roughly ten months. Data indicates a concentration of large Bitcoin and Ethereum inflows, particularly on Binance, which now holds over 70% of major platform stablecoin balances. The Bitcoin exchange whale ratio, measuring top inflows relative to total deposits, recently climbed above 0.50, a level historically linked to elevated sell-side risk.
Analysts note a concerning imbalance: while whales deposited roughly $2.4 billion worth of crypto (split between Bitcoin and Ether) to Binance over the past week, stablecoin balances—a key indicator of fresh buying power—remained flat. This suggests the inflows are more likely tied to preparation for selling, derivatives collateral, or short-term liquidity rather than accumulation. Furthermore, withdrawals from exchanges into cold storage have declined, contrasting with typical bull market accumulation patterns.
Despite Bitcoin's resilience, trading near $92,400 after briefly testing $93,000, the absence of aggressive buyer demand alongside rising whale deposits introduces friction and potential resistance for further upside momentum. The market is navigating a scenario where large players are actively positioning, but conviction buying has yet to materialize in response.
