A new whale has captured attention by establishing a significant long position on Ethereum through Hyperliquid, which was worth over $100 million at the time it was set up.
Key Highlights:
- A new whale has taken a $100M long position in ETH on Hyperliquid utilizing 25x leverage.
- This position currently shows unrealized profits of $800K, but it is risky due to complete capital exposure and narrow margins.
- Hyperliquid continues to attract daring traders like James Wynn.
Onchain data indicates that the trader deposited 4.28 million USDC and swiftly allocated this into a 25x leveraged long position, equating to 44,523 ETH.
The position’s entry price was $2,247.22, and with ETH trading at about $2,266, it reflects unrealized profits exceeding $800,000.
High-Stakes Ethereum Long Bet on Hyperliquid Faces Liquidation at $2,196
This highly leveraged bet has a liquidation threshold set at $2,196, which is a tight margin given the current market climate.
The position operates under a cross-margin framework, exposing the trader’s entire capital.
The wallet contains no other assets—spot, vault, or staked—beyond this one perpetual contract, emphasizing the high concentration of risk in this trade.
The funding rate indicates a minor loss of -$2,509.93, reflecting a moderate market sentiment tilt.
This activity indicates a rising interest from affluent participants willing to make speculative bets on Ethereum’s short-term price movements.
Hyperliquid is gaining traction in the perpetual DEX scene, appealing to traders making big leveraged trades.
One well-known trader, James Wynn, gained recognition for extravagant bets on this platform, turning a $7,000 PEPE wager into more than $25 million.
Since then, he has been trading perpetual futures on Hyperliquid since March, despite lacking experience with derivatives.
In under a month, Wynn claimed to have escalated a $3 million position to $100 million through high-leverage trades, drawing substantial attention from the crypto community.
However, things took a turn in May when Wynn opened a $1.25 billion long position on Bitcoin utilizing up to 40x leverage.
A geopolitical tweet from former President Trump unsettled the markets, leading to Wynn’s liquidation and the loss of his substantial bet, leaving him with hardly anything.
Ethereum Staking Surges Despite Market Slump
Reports indicate that Ethereum staking has reached a milestone, with over 35 million ETH—representing more than 28.3% of the total supply—now locked into the network’s proof-of-stake protocol.
More than 500,000 ETH was staked within just the first half of June. This trend suggests a change in investor behavior, with many choosing to earn yields rather than sell at current price levels.
Currently, over 25% of staked ETH is managed by liquid staking giant Lido, while Binance and Coinbase account for 7.5% and 7.4%, respectively.
Coinbase has also become Ethereum’s leading node operator, controlling over 11.4% of staked ETH through its validators.
Interestingly, Ethereum is experiencing its most significant whale accumulation in seven years, with large wallets adding over 871,000 ETH in just one day on June 12.
This surge marks the highest daily influx in 2025, bringing total holdings in wallets with 1,000 to 10,000 ETH past 14.3 million ETH, according to Glassnode.
The post New Whale Opens $100M Ethereum Long on Hyperliquid with 25x Leverage, Racks Up $800K in Unrealized Gains appeared first on Cryptonews.
