According to COINOTAG News, and tracked by The Data Nerd, a prominent crypto whale opened a leveraged long ETH position on Hyperliquid, utilizing 3x leverage. The notional exposure rounds to $89 million, while the position has reportedly generated around $19 million in profit over the last month. As of December 21, this move signals sustained institutional-style interest in Ethereum within advanced liquidity platforms.
While this single data point involves one address, it underscores ongoing demand for long ETH bets and highlights the importance of risk discipline in leveraged markets. Market participants should watch evolving open interest, funding rates, and liquidity on Hyperliquid to gauge potential market impact rather than extrapolating a broad trend from a lone position.