The giant whale, known by the nickname 1011short, increased his long position by эфириум up to $593 million
On December 18, the wealthy investor transferred 12,406 ETH to the Hyperliquid exchange to increase the value of a futures contract for the cryptocurrency. Currently, the trader has three active long positions:
- On Ethereums worth $593,6 million;
- $86,9 million in Bitcoin;
- On the Solana (SOL) for $37 million.
Positions opened by 1011short
The rich man took a huge risk by opening long positions during a bear market, and his bets have so far failed to pay off. His long positions have resulted in unrealized losses totaling $55,7 million. If the digital asset price continues to decline, the financial losses will increase, and his ETH position will be liquidated when the coin’s price drops to $2,135.
Also, on Thursday evening, the original gangster 1011short emptied his Bitcoin-wallet, sending to the exchange Binance 5152 BTC worth $444,73 million. This has led to speculation that the whale has sold the coins or is preparing to do so. In this case, they will likely close their long positions on the futures market due to the prolonged downtrend.
A conspiracy theory has also emerged that the moneybags deliberately opened long positions to mislead ordinary market participants and get rid of Bitcoin at a more favorable price, while everyone is counting on a reversal and strengthening the support barrier with limit orders.