New Whale Opens $100M Ethereum Long on Hyperliquid with 25x Leverage, Racks Up $800K in Unrealized Gains

Ethereum hyperliquid Whale

Crypto Journalist

Amin Ayan

Crypto Journalist

Amin Ayan

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Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has...

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June 23, 2025

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A new whale has drawn attention after opening a massive long position on Ethereum via Hyperliquid, valued at over $100 million at the time of execution.

According to onchain data, the trader deposited 4.28 million USDC and immediately deployed the capital into a 25x leveraged long, amounting to 44,523 ETH.

The entry price for the position was $2,247.22, with ETH currently trading around $2,266, resulting in unrealized gains of over $800,000.

High-Stakes Ethereum Long Bet on Hyperliquid Faces Liquidation at $2,196

The high leverage bet comes with a liquidation level set at $2,196, a relatively narrow margin in current market conditions.

The position appears under a cross-margin setting, allowing full capital exposure.

The wallet shows no spot, vault, or staked assets beyond this single perpetual contract, underscoring the size and risk concentration of the trade.

The funding rate on the trade currently stands at a minor loss of -$2,509.93, which indicates moderate market sentiment skew.

The activity suggests growing interest from high-net-worth participants willing to take directional bets on Ethereum’s short-term trajectory.

Hyperliquid, a rising player in the perpetual DEX market, has increasingly become a hub for large leveraged positions.

One trader who found fame through extravagant bets on the platform is James Wynn, who turned a $7,000 PEPE wager into more than $25 million.

Riding that wave, he began trading perpetual futures on Hyperliquid in March, despite having no prior experience with derivatives.

In less than a month, Wynn claimed to have grown a $3 million position into $100 million through high-leverage trades, attracting massive attention from the crypto community.

However, the turning point came in May, when Wynn opened a $1.25 billion long position on Bitcoin using up to 40x leverage.

A geopolitical tweet from former President Trump caused markets to turn, triggering Wynn’s liquidation. His massive bet was wiped out, leaving him with nearly nothing.

Ethereum Staking Surges Despite Market Slump

As reported, Ethereum staking has reached a new milestone, with more than 35 million ETH, over 28.3% of the total supply, now locked into the network’s proof-of-stake system.

Over 500,000 ETH was staked in just the first half of June. The trend signals a shift in investor behavior, with many opting to earn yield rather than sell at current prices.

Currently, more than 25% of all staked ETH is handled by liquid staking giant Lido, while Binance and Coinbase account for 7.5% and 7.4%, respectively.

Coinbase has also emerged as Ethereum’s largest node operator, controlling over 11.4% of staked ETH via its validators.

Notably, Ethereum is witnessing its most intense whale accumulation in seven years, with large wallets adding over 871,000 ETH in a single day on June 12.

This marks the highest daily inflow in 2025 and has pushed total holdings in 1,000 to 10,000 ETH wallets past 14.3 million ETH, according to Glassnode.