ETH Surges: 50x Leverage Whale Shifts to Long Positions on GMX and Hyperliquid

According to recent data from COINOTAG News, a significant movement in the crypto market was observed on March 13th when the renowned “50x Leverage Whale” executed a strategic shift. The entity closed its short positions on both Hyperliquid and GMX, subsequently establishing an aggressive long position on GMX with 16.99x leverage. This long position amounts to a substantial $38.7 million investment in Ethereum (ETH).

Additionally, the whale opened a 25x long position on Hyperliquid, acquiring 16,173.77 ETH at an entry price of $1,886. The liquidation threshold for this trade has been set at $1,840, a critical level that traders will closely monitor. Such movements emphasize the increasing volatility and trading strategies in the crypto space as market participants react to shifting market conditions.