On October 10, the notorious "OG whale" of Hyperliquid, who made nearly $200 million during the market crash, has established a $44.5 million long position in Ethereum after several successful operations.
This whale, referred to by some as the "$10 billion HyperUnit whale," has not yet had their identity officially confirmed. According to data from blockchain analysis platform Arkham Intelligence, this whale added $10 million to their existing long position on Monday, bringing the total to $44.5 million.
Arkham stated in a post on X on Monday: "He currently holds a $44.5 million ETH long position, making over $300,000 in profit in less than an hour."
Since last month, this whale has gained notoriety for making substantial profits through several well-timed market shorts. If they judge correctly again, they will profit from a potential rebound in Ethereum (ETH).
The identity of this whale remains a mystery, with Arkham Intelligence listing "unverified custom entity" next to their wallet ID.
Garret Jin, the former CEO of the now-defunct cryptocurrency exchange BitForex, has denied being the owner of the wallet, but it seems that some connections to this figure were confirmed after blockchain detectives conducted some digging last month.
According to CoinGecko data, as the cryptocurrency market broadly rises, ETH has increased by 2% in the past 24 hours and is currently trading at around $2,900.
Industry analysts and experts have pointed to changes in futures data, suggesting that the crypto market may be forming a bottom, but it remains to be seen whether bulls or bears will dominate.
Related: Reports indicate that Japanese regulators will require exchanges to hold liability reserves.
Original: “OG Whale Predicting October Crash Has Established $44.5 Million Ethereum (ETH) Long Position”
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