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Whale entered Ethereum heavily: Opened Long at this price! - Coin Bulletin
A crypto whale placed a strong bet in the bullish direction by opening a long position in Ethereum (ETH) with 5x leverage.
As volatility increases in the crypto markets, the large transactions made by whales continue to attract the attention of investors. Most recently, according to data shared by the on-chain analysis platform Lookonchain, an unnamed whale investor opened a long position for Ethereum (ETH) by investing approximately 6 million dollars worth of USDC on the decentralized derivatives exchange Hyperliquid.
The transaction was executed at a moment when Ethereum was trading at approximately 1,624 dollars. The whale made this transaction using 5x leverage. This means the investor expects the price of ETH to rise in the market and aims to increase their profit through the leverage effect based on this expectation. However, in the same way, in the event of a move in the opposite direction, the loss will also increase by the same proportion.
According to CoinGecko data, Ethereum is currently finding buyers at around 1,640 dollars.