Ether Longs Report: $10M Boost by Infamous Crypto Whale
A notable crypto whale has increased its Ether position to $44.5 million after profiting from the recent market crash.
The notorious Hyperliquid whale, who capitalized on the October market downturn, has made a significant addition to its Ether holdings, raising its total investment in Ether (ETH) to $44.5 million.
This whale, often referred to as the ‘$10B HyperUnit Whale’, recently contributed an extra $10 million to its already substantial long position on Ether.
According to blockchain analytics firm Arkham Intelligence, this move was made public as the whale, apparently undetected until now, experienced over $300K profit in roughly an hour.
Arkham Intelligence described: “He is currently long $44.5M of ETH and is up over $300K in less than an hour.”
OG Whale wallet activity. Source: Arkham Intelligence
Since the previous month, this whale has attracted attention due to its skillful strategies during market shorts. Should it be correct again, it stands to gain from any Ether rally that may ensue.
Despite Arkham listing the whale as an “unverified custom entity”, they continue to identify this wallet with great intrigue.
A recent claim has been made by Garret Jin, who previously led the now-defunct BitForex exchange, denying ownership of this wallet while suggesting a connection after inquiries by blockchain investigators.
In a broader context, the crypto marketplace has seen ETH rise 2% in the past 24 hours, currently hovering around $2900, as CoinGecko reports. Analysts believe that fluctuations in futures data could signal a potential stabilization in the market.
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