Ethereum: 1011 Insider Whale Expands ETH Long to 51,132 ETH (~$180M) with Ongoing Limit Orders

According to COINOTAG News via Hyperinsight, the so‑called 1011 Insider Whale has expanded its ETH long by more than 10,000 ETH, bringing the total to 51,132 ETH (about $180 million). The position is building through limit orders, including a buy of 1,867 ETH at a $3,520 entry.

The 5x ETH long shows an unrealized gain of roughly $2.94 million, about 8.6%, with an average entry near $3,462.

COINOTAG notes this address previously opened a BTC short ahead of the October 11 downturn, earning around $160 million, triggering community speculation about insider activity. Earlier, it reportedly redeployed BTC to an ETH balance from Hyperunit.

Garrett Jin, who represents the account, says client funds exceed $10 billion and are used in high‑leverage hedging (10x–50x). He contends the activity reflects legitimate hedging, not insider trading.