Whale Increases Long Position on BTC and ETH Amidst $900K Floating Loss – Market Update

On March 2nd, COINOTAG News reported a significant movement within the crypto market, highlighting a notable whale active in Bitcoin (BTC) and Ethereum (ETH) trading. This investor, utilizing 50x leverage on the Hyperliquid platform, has escalated their holdings by acquiring an additional 914 ETH and 41 BTC. The total long position now stands at a remarkable nominal value of 220 million US dollars, although this strategy has led to a floating loss that has swelled to nearly 900,000 US dollars. Presently, the whale’s portfolio comprises 50,298 ETH, with a liquidation threshold of approximately $2,136.98 per ETH, while the BTC holdings are at 1,301 BTC, facing a liquidation price of $84,626. This active trading behavior reflects the ongoing volatility and the high-risk appetite prevalent in today’s cryptocurrency landscape.