Whale Sells 1,863 ETH for $4.06 Million USDC, Leverages into BTC with 20x at Hyperliquid

On March 6th, COINOTAG reported significant activity in the cryptocurrency market, showcasing the actions of a dormant address that recently sold 1,863 ETH after two years of inactivity. This transaction netted the seller 4.06 million USDC, equating to an average price of $2,181 per ETH. Following this sale, the address deployed these funds into Hyperliquid, embarking on a bullish strategy by taking a long position on BTC at 20x leverage. The initial entry level for this position was set at $89,930, yielding an unrealized profit and loss (P&L) of approximately $589,000 at the time of reporting, while the liquidation price stands at $75,186. Such movements reflect the continued interest and volatility within the crypto landscape, providing valuable insights for traders and investors alike.