Ethereum Whale Opens 20x Leveraged ETH Long as 2,004 ETH Spot Near $3,125 and Moves BTC Holdings Off-Chain

COINOTAG News, citing HyperInsight, reports notable whale activity on December 9. The address known as ‘Whale with 30 Failed Long Attempts’ (0x8d0) has been building its ETH spot holdings around $3,115 and opened a 20x leveraged ETH long position. Current ETH holdings total about 2004 ETH (~$6.24 million), with the long exposure near $6.24 million and an average entry near $3,125. The same entity added 66.13 BTC spot holdings (roughly $6.01 million) earlier today, signaling active reallocation rather than a passive stance.

Both positions were subsequently transferred to other chains, illustrating a cross‑chain transfer pattern. Since October 11, the address has regularly engaged intraday longs across multiple assets, tallying over 30 long entries by November 26 and generating an estimated $6 million in losses, with a small profit in the past week. The move highlights liquidity considerations and risk signaling for observers tracking large-holder behavior in a shifting market.