A remarkable transaction record was experienced in the cryptocurrency markets.
A whale wallet managed to increase its capital from $125,000 to $29.6 million in just four months. In the process, the whale achieved a 236x return by opening a long position on Ethereum (ETH).
The whale in question deposited $125,000 into the Hyperliquid platform approximately four months ago and initiated long trades on ETH across two different accounts. By consistently adding profits back into the position, the whale built a massive position of 66,749 ETH ($303 million) through this strategy.
However, it is important to remember that although things may have gone well for this whale, making leveraged trades in the already high-risk cryptocurrency market will likely result in the loss of all principal.
On the other hand, some of the other whale movements in the market today were as follows:
- A newly created wallet (bc1qvl) recently withdrew 450 BTC ($53.1 million) from Binance.
- It also appears that 893,599 ETH ($3.96 billion) of Ethereum was in the market waiting to be unstaking. Instead of waiting, the whale with the address 0x2aC9 directly swapped 4,242.4 stETH for 4,231 ETH ($18.74 million) and deposited it to Kraken to sell. The impatient whale reportedly lost 11.4 ETH ($50.5,000) in this transaction.
*This is not investment advice.
