Whale Opens $8.9M 3x Long Position on ETH, Secures $4.54M Profit in One Week

On July 10th, blockchain data revealed a significant whale initiated a 3x leveraged long position on Ethereum (ETH), currently valued at approximately $8.94 million. The average entry price for this position stands at $2,807, highlighting a strategic bet on ETH’s price appreciation. Recent analytics indicate that this particular address has realized a substantial profit of $4.54 million over the past week on the Hyperliquid platform, underscoring the effectiveness of leveraged trading within the crypto derivatives market. This development reflects growing confidence among institutional investors in Ethereum’s near-term performance, while also emphasizing the increasing role of on-chain data in tracking large-scale market movements.