Ethereum Whales Open Long Positions Despite Losses

Ethereum whales are displaying no indications of retreat, irrespective of heavy liquidations amid market turbulence. Hence, the on-chain data suggests that the Ethereum whales are opening long positions despite the staggering losses. As per the data from Onchain Lens, Bitcoin OG (10/11) has opened a $26.8M $ETH long while Machi has started a 25x $ETH long. This re-entry with aggressive long positions presents a huge confidence.

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Ethereum Whale Bitcoin OG Starts $26.8M Long $ETH Position on HyperLiquid

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The data indicates that the popular Ethereum whale Bitcoin OG (10/11) has started a noteworthy long $ETH position. In this respect, the whale has deposited up to $10M $USDC tokens into HyperLiquid. Subsequently, the whale has initiated a long position of $26.8M $ETH with a considerable 5x leverage. In line with the on-chain statistics, the long $ETH position of Bitcoin OG (10/11) comprises 9,010.4 $ETH, accounting for $2,959.4 as its average entry price.

At the same time, the whale has set $1,888.2 as the latest $ETH long position’s liquidation threshold. Tracked on HyperLiquid, the position denotes hundred percent long exposure while having support by a $5.36M margin. The account overview of the trader presents a cumulative value of $10.22M, with a $130,649.92 in unrealized profit and a $1.8M in its free margin.

Machi’s Comeback with 25x Long $ETH Position Despite Full Liquidation Reinforces Confidence

Subsequently, another prominent Ethereum whale, Machi, has also shown an aggressive comeback after a large liquidation. The data reveals the complete liquidation of its previous long $ETH position that had a 25x leverage. However, the whale has reaffirmed confidence by opening another long position with 25x leverage.

According to Onchain Lens, Machi’s present outlook displays an overall $21.36M loss. Additionally, the long value of the Ethereum whale stands at $6.48M. Keeping this in view, the start of the latest long $ETH position highlights Machi’s active account despite the noteworthy setback. Overall, while market is navigating through high-stakes risk and volatility, Ethereum whales are actively reinforcing their unwavering confidence with new long positions despite losses.

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