Smart Money Shifts from Solana to $17.9M 3x Long Ethereum Position on Hyperliquid

On July 23, on-chain analytics revealed that a prominent smart money investor liquidated their SOL long position on Hyperliquid, subsequently initiating a 3x leveraged long position in ETH valued at $17.9 million. The average entry price for this Ethereum position was $3,743, with a liquidation threshold set at $2,547.6. This strategic move highlights a shift in market sentiment towards Ethereum within the leveraged trading community. Notably, this address has realized cumulative profits of $3.36 million on the Hyperliquid platform, including gains of approximately $2.362 million over the last seven days, underscoring the effectiveness of their trading strategy in volatile market conditions.