The infamous “OG Whale” hyperliquid, which made nearly $200 million in the October 10 market crash, as well as several other successful plays, has amassed $44.5 million in long Ether positions.
The whale, known by some as the “$10 billion HyperUnit Whale,” which has not yet been officially identified, added $10 million to its existing long position on Monday, bringing its total to $44.5 million, according to data data from the Arkham Intelligence blockchain analytical platform.
“He is currently long $44.5M in ETH and has gained over $300K in less than an hour,” Arkham said in a Monday post on X.
Since last month, the whale has made a name for itself by making some nice gains on several well-timed miniature trades. If they were right again, they would take advantage of the potential boost in Ether (ETH) prices.
The whale’s identity remains a mystery, with Arkham Intelligence listing “unverified custom entity” next to the wallet ID.
Related: ETH price falls to its lowest level in 4 months, but Ether futures data indicates a rebound to 3.2 thousand. dollars
The former CEO of now-defunct cryptocurrency exchange BitForex, Garret Jin, denied owning the wallet, but apparently confirmed an association with the person after several searches by blockchain detectives last month.
According to CoinGecko, in addition to the broader rally in the cryptocurrency market, the price of ETH has increased by 2% in the last 24 hours and is currently trading at around $2,900 data.
Analysts and industry experts point to changes in futures data, arguing that the cryptocurrency market may be forming a bottom, but it remains to be seen whether bulls or bears will take over.
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