Ethereum Whale Opens 5x Long on 16,093 ETH ($62.4M), 2nd-Largest ETH Long on Hyperliquid

COINOTAG News reported on-chain data from Oct 24 showing a prominent Ethereum whale opened a 5x leveraged ETH long position on 16,093.71 ETH, totaling roughly $62.4 million, with an entry at $3,862.37 and an unrealized gain near $240,000. This move elevates the position to the second-largest ETH long on Hyperliquid, underscoring persistent demand for leveraged exposure among traders.

While the size is notable, analysts caution that high leverage amplifies risk and warrants disciplined risk management. The development suggests liquidity depth on the platform and ongoing interest in Ethereum exposure, rather than a guaranteed market direction. Traders should monitor margins and funding dynamics as on-chain signals evolve.