Crypto market volatility has put the moves of large investors, known as whales, back under the spotlight. While some big traders on the Hyperliquid platform have taken losses running into the millions of dollars, a large purchase of Ethereum ($ETH) by a wallet that had been dormant for a long time has drawn attention.
Dogecoin Whale Nears Liquidation With Total Losses of $3.55 Million!
On-chain data shows that a large investor who bet on Hyperliquid that Dogecoin ($DOGE) would rise is facing heavy losses.
The whale is reportedly carrying about $1.53 million in unrealized losses on a $5.35 million $DOGE long position. The position sits just 3.65% away from liquidation, which raises the risk the investor faces.
The same investor was also reported to have lost a further $741,800 to liquidations across $DOGE, XRP and LIT positions.
According to the latest data, the whale’s total profit and loss (PnL) has reached negative $3.55 million.
Whale Buys $5.4 Million Worth of Ethereum!
While some large investors are nursing losses, others are treating the price decline as a buying opportunity.
According to on-chain analysis, a wallet at the address 0xB47…0511e, which had been inactive for about a year, bought $5.4 million worth of Ethereum in a single transaction. The whale’s average purchase price per $ETH was calculated at $2,113.46.
What stood out was where the investor’s funds came from.
It was determined that 5.4 million USDT was transferred into the wallet one day before the purchase, but these funds had reportedly been withdrawn from various cryptocurrency exchanges about three years earlier and had been held in wallets since then.
When the funds were first withdrawn, Ethereum was trading around $1,500. The investor apparently sat out as the $ETH price climbed to around $4,500, and then entered the market at around $2,113.
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Meanwhile, a crypto address reportedly tied to the UXLINK attack has closed out a large Ethereum position.
According to on-chain data, the address fully closed a long position of 30,000 $ETH, which it had held for roughly three months, using the time-weighted average price (TWAP) method.
The position, valued at approximately $64.66 million, had an average closing price of $2,135.20, resulting in a realized loss of $1.106 million.
However, the most notable aspect of the trade was the profit the position had reached at an earlier point.
According to the data, the same position had at one point carried approximately $16.8 million in unrealized profit, during a period when the Ethereum price was high. The investor, however, did not realize that profit and ultimately closed the position at a loss.
*This is not investment advice.
Source: en.bitcoinsistemi.com. Adapted by NBTC.
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