ETH Whale Increases Long Position to 76.7k ETH, Now Worth $342 Million – A Deep Dive into Strategic Moves

COINOTAG News reports on August 18th regarding a notable movement in the cryptocurrency market led by a significant whale. The on-chain analyst Wu Jinyan observed that a “125k USD Long ETH Whale” has escalated their position by acquiring an additional 10,000 ETH in the early hours, bringing their total holdings to approximately 76,700 ETH, now valued at around 342 million USD. This whale initially entered the market at a yearly low in April, gradually increasing their stake from a mere few hundred ETH. Currently, this strategic player is reaping gains, totaling 23.6 million USD. Their two active trading accounts highlight the scale of their investments: a 14x long position encompassing 51,745 ETH valued at 230 million USD, with a liquidation price set at 4,257 USD, and a 15x long position of 25,000 ETH, valued at 110 million USD, with a liquidation price at 4,248 USD.