Ethereum Whale Switches to 7x Leveraged Long After Selling 1,654 ETH, Opening a $38.4M Position on Hyperliquid (Liquidation at $2,907.6)

COINOTAG News, December 10, reports, per LookIntoChain monitoring, that whale address 0x76AB reversed course after an ETH spot sale and opened a leveraged long stance. The operation shows 1,654 ETH sold for about 5.49 million USDC, showcasing a spot-to-leverage shift in the trader’s book and signaling a tactical reallocation in ETH exposure.

The USDC was then deployed on Hyperliquid, where the trader established a 7x leveraged long position, corresponding to 11,543 ETH and an implied notional near $38.4 million. Risk parameters show a liquidation price of $2,907.6, underscoring the asymmetric downside risk embedded in this high-leverage setup.