A prominent and aggressive crypto trader, closely monitored on the Hyperliquid platform, has executed a dramatic reversal from short to long positions, deploying over $328 million across four major cryptocurrencies. According to data from Lookonchain and Onchain Lens, this whale, known for previously selling 255 BTC to fund substantial short positions in December, is now heavily long on Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP.
The whale's current long positions are substantial: 1,210-1,247 BTC (worth approximately $109.5-$112.8 million), 32,474-37,414 ETH (worth $100.6-$115.6 million), 503,778 SOL (worth ~$69.9 million), and 14.26 million XRP (worth ~$29.9-$30 million). The total unrealized profit from these positions has already exceeded $9.4 million, with the BTC position currently in profit by 2.58%.
This shift represents a significant strategic pivot. In December, the same entity unloaded 514 BTC held for over a year, sold 255 BTC for $21.8 million, and used the proceeds to open $80.2 million in Bitcoin shorts and $2.1 million in Ethereum shorts, netting over $8.2 million in profit. The new long on XRP is particularly notable, involving a $30 million position with 20x leverage, though the entry price of $2.1027 is only slightly above the current market price.
The whale's aggressive stance is underscored by high leverage, averaging over 10.8x across all positions, with a $0 withdrawable balance indicating full capital commitment. While the ETH, SOL, and XRP positions are currently underwater (with SOL showing the largest loss of ~$386,000), liquidation prices remain distant—for XRP, the liquidation level is set at $0.3887, more than 80% below the current price.
This activity coincides with broader whale movements, as another trader, "pension-usdt.eth," closed a profitable $395,000 short on 20,100 ETH and immediately opened a 3X long position with 20,000 ETH ($62 million), bringing their total profit to over $22.38 million. These moves suggest a growing conviction among large holders for an upcoming market upswing, particularly a bet on altcoins like XRP for a potential breakout.
