Crypto Whale Opens $540 Million Long Position in Ethereum
A major crypto whale has opened a long position in Ethereum (ETH) worth over $540 million on the Hyperliquid exchange. According to Arkham Intelligence, the whale known as the $10 billion Hyperunit moved $110 million from Binance on Friday to add to this ETH position. The whale currently holds an unrealized loss of $14.4 million on this trade.
The same whale also holds long positions in Bitcoin (BTC) and Solana (SOL) valued at $90 million and $33 million, respectively.
This whale is known for growing an $850 million Bitcoin investment into a $10 billion portfolio. It recently made $200 million in profits during the October market crash by shorting $485 million worth of Bitcoin.
Bitcoin and Ethereum Drop After Fed Rate Cut
The crypto market has been weak since the Federal Reserve’s rate cut on Wednesday. The Fed lowered rates by 25 basis points but kept a cautious outlook. Officials expect only one more rate cut in 2026.
Since the announcement, Bitcoin has fallen 4%, nearing the $90,000 mark. Ethereum also dropped 4% in the last 24 hours, extending its total loss to 8% since Wednesday and falling below $3,100. Solana declined 7% following the Fed’s move.
