Mystery Whale Opens $44 Million Long on Ethereum After Calling October Crash

TLDR

• An unidentified Hyperliquid whale who made nearly $200 million from the October 10 market crash has opened a $44.5 million long position on Ether
• The whale added $10 million to an existing position on Monday and was up over $300,000 within an hour
• The trader gained attention for several well-timed market shorts and is known as the “$10B HyperUnit Whale”
• Former BitForex CEO Garret Jin denied owning the wallet but confirmed a connection to the person
• Ether is currently trading around $2,900 after climbing 2% in the past 24 hours

An unidentified cryptocurrency trader on the Hyperliquid platform has placed a massive $44.5 million long position on Ether. The whale made headlines for profiting nearly $200 million during the October 10 market crash.

The trader added $10 million to an existing position on Monday. Data from blockchain analytics platform Arkham Intelligence tracked the transaction.

The whale gained over $300,000 within the first hour of opening the expanded position. The trader is known in crypto circles as the “$10B HyperUnit Whale” or “OG Whale.”

The identity of the whale remains unknown. Arkham Intelligence lists an “unverified custom entity” alongside the wallet ID.

Former BitForex CEO Garret Jin addressed speculation about the wallet’s ownership last month. He denied being the owner but confirmed a connection to the person after blockchain investigators traced potential links.

The whale built their reputation through several profitable short positions. Their success rate has attracted attention from traders and analysts across the crypto industry.

October Market Crash Trade

The trader’s most famous position came during the October 10 market downturn. They profited nearly $200 million from well-timed short positions during the crash.

The whale has executed multiple successful trades since then. Each move has been tracked closely by blockchain analytics platforms and crypto community members.

Current Market Conditions

Ether is currently trading around $2,900 according to CoinGecko data. The cryptocurrency has climbed 2% over the past 24 hours.

The broader crypto market has experienced a surge alongside Ether’s price movement. Bitcoin and other major cryptocurrencies have also seen gains.

Industry analysts have been examining futures data for market direction signals. Some experts suggest the market may be forming a bottom based on these indicators.

The whale’s long position represents a bullish bet on Ether’s price. If correct, the trader would profit from any upward price movement in the cryptocurrency.

Hyperliquid is a decentralized perpetual futures exchange. The platform allows traders to open leveraged positions on various cryptocurrencies.

The whale’s trading activity continues to be monitored by blockchain analytics firms. Their wallet movements often generate discussion within the crypto trading community.

Ether reached a four-month low before the recent price recovery. The cryptocurrency has been trading below previous support levels established earlier this year.

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