Crypto

Crypto Whales Turn Bullish, Open Nearly $100M Longs on Hyperliquid

4 hours ago
Bitcoin Ethereum News

Key Notes

  • High-leverage traders deployed $92.87 million across four positions, with some using up to 25x leverage on their bets.
  • Vitalik Buterin transferred $2.9 million ETH to privacy protocol Railgun, shielding transactions using zero-knowledge proofs.
  • Institutional adoption of privacy coins grows as Nasdaq-listed Reliance Global follows Zcash treasury strategy.

Three cryptocurrency whales have turned bullish earlier today, on November 26, opening nearly $100 million of long positions on Hyperliquid

HYPE
$35.45



24h volatility:
9.3%


Market cap:
$9.61 B



Vol. 24h:
$441.38 M

, according to onchain analysis.

These three whales were spotted by Lookonchain in the two hours prior to the post and signal a sentiment shift for high-capitalized traders, adding risk to the expectations of a crypto rally. According to the onchain analysis, Bitcoin

BTC
$90 279



24h volatility:
3.0%


Market cap:
$1.80 T



Vol. 24h:
$67.33 B

and Ethereum

ETH
$3 037



24h volatility:
2.9%


Market cap:
$366.61 B



Vol. 24h:
$22.75 B

were the favored assets for these large positions that are following different strategies.


First, the address 0x0ddf9bae2af4b874b96d287a5ad42eb47138a902 opened low-leverage longs on both Bitcoin and Ethereum. The trader opened a 3x long position on 311.9 BTC, worth $27.14 million, and a 2x long on 5,176 ETH, worth $15.15 million.

Interestingly, the other two whales were far more aggressive. The address 0x2c26b98bba32196e05123db5e1469ee88cb67e17 opened a 20x long on 346 BTC, worth $30.09 million, while 0x535e34b5ada64997afc88444271ae9b3f82b3867 opened a 25x long position on 7,000 ETH, worth $20.49 million.

Together, the four positions sum up to $92.87 million, according to the nominal value reported by Lookonchain.

Vitalik Moves $2.9M ETH to Privacy Protocol Railgun

Other notable whales are also moving as overall market conditions appear to change mid-week. Vitalik Buterin, Ethereum creator, is one of them, just moving $2.9 million of ETH to the privacy-enhancing protocol Railgun, according to Arkham Intelligence data.

Addresses identified as belonging to the well-known figure hold approximately $700 million of Ether, of which 0.42% have now lost their trails. Railgun uses zero-knowledge proofs (zk-SNARKs) to shield token balances and transactions in a shared pool, enabling users to deposit, transfer, and withdraw assets privately without revealing amounts, senders, or recipients on the public blockchain.

This is a similar technology to the now-leading privacy coin Zcash

ZEC
$521.2



24h volatility:
4.6%


Market cap:
$8.55 B



Vol. 24h:
$927.67 M

, which has also seen significant whale activity, this time from institutional players. Two weeks after Nasdaq-listed Leap Therapeutics rebranded to Cypherpunk to start a ZEC digital asset treasury (DAT), another Nasdaq-listed company, Reliance Global, has also pivoted to follow a Zcash DAT strategy. Both signal a bullish stance for the privacy coin.

On a similar note, Nasdaq-listed OceanPal subsidiary SovereignAI purchased 53.9M NEAR

NEAR
$1.95



24h volatility:
2.2%


Market cap:
$2.50 B



Vol. 24h:
$188.80 M

for its DAT strategy, worth $133 million. Looking at recent launches, Monad has reverted from a previously bearish action to accumulating over 40% gains with MON price post-launch.

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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Vini Barbosa

Vini Barbosa has covered the crypto industry professionally since 2020, summing up to over 10,000 hours of research, writing, and editing related content for media outlets and key industry players. Vini is an active commentator and a heavy user of the technology, truly believing in its revolutionary potential. Topics of interest include blockchain, open-source software, decentralized finance, and real-world utility.

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Source: https://www.coinspeaker.com/crypto-whales-open-93m-long-positions-bitcoin-ethereum-hyperliquid/