#山寨季何时到来？ Liquidation of $330,000! The mysterious whale's short on ETH ended in disaster, while Grayscale and BlackRock quietly increased their positions?
Today's crypto market is even more thrilling than a roller coaster! First, a mysterious whale splurged 3.36 million USDC shorting ETH, only to lose $330,000 in less than an hour, while on the other side, Grayscale and BlackRock were quietly increasing their positions, leaving everyone confused...
I. Whale shorts ETH: 25x leverage gamble, loses $330,000 upon closing.
According to Lookonchain monitoring, today (May 9), a whale suddenly deposited 3.36 million USDC to the decentralized exchange Hyperliquid and then directly opened a 25x leveraged short position on ETH! This is quite significant - with a nominal position of 41,947 ETH, valued at 92 million dollars at the time, and a liquidation price of $2,247.1/ETH. Initially, this guy made $658,000, but unexpectedly, the price of ETH skyrocketed and 'blew up' his position.
Even worse, this whale had to close its position an hour ago, directly losing $333,600. A knowledgeable netizen joked: 'Is this whale here to give away money? Shorting with 25x leverage is like dancing on the edge of a knife!'
In fact, this is not the first time Hyperliquid has seen such an incident. Earlier this March, the platform experienced a case where a whale used high leverage for arbitrage, resulting in a loss of $4 million for the platform. At that time, Hyperliquid urgently reduced the leverage limit for ETH from 50x to 25x, and now someone has tripped up again. It seems that playing high leverage on DeFi platforms truly is 'seeking wealth in danger, with tears of regret'.
II. ICO participants cash out 9.24 million ETH, leaving 9 million behind.
On the same day the whale was liquidated, OnChain lens detected an even more 'ancient' player also making moves. An early participant from the Ethereum ICO period suddenly transferred 4,200 ETH to the Kraken exchange, valued at $9.24 million at current prices. However, this guy may not intend to leave the market completely, as his address still holds 4,100 ETH, valued at about $9 million.
An experienced investor analyzed: 'This may be an early holder looking to cash out a portion while not wanting to completely give up on ETH's long-term potential. After all, back during the ICO, ETH was only a few bucks, and now it's risen over ten thousand times. Selling even a little amounts to tens of millions!'
III. Grayscale and BlackRock's reverse operations: one transferred out 90,000 BTC, while the other increased its position by 12,000 ETH.
Just as the market erupted due to the whale's liquidation, the actions of the two major institutions left people puzzled. According to Arkham monitoring, Grayscale suddenly transferred out 9,000 BTC five hours ago, with a total value of $921.15 million. BlackRock was more direct, transferring 12,109 ETH to Coinbase Prime, valued at about $23.46 million.
This operation left people confused: 'Is Grayscale going to sell Bitcoin? But BlackRock is increasing its Ethereum position. What are these institutions planning?'
In fact, Grayscale's operations may be related to its Ethereum Trust (ETHE). Previously, it was reported that Grayscale's ETHE had seen a net outflow of $1.5 billion due to high management fees, while its newly launched Mini Trust (ETH) attracted inflows. This transfer of BTC is likely to address redemption pressure or adjust asset allocation.
BlackRock was even more straightforward - its Ethereum ETF (ETHA) has recently performed exceptionally well, consistently ranking first in trading volume. This increase in ETH clearly prepares for the operation of the ETF. An analyst said: 'BlackRock is showing its confidence in Ethereum's long-term value with concrete actions!'
IV. The market is like fire and ice: 200,000 retail investors suffer liquidation while institutions are quietly bottom-fishing.
At the same time the whale was liquidated, the entire crypto market celebrated. On the evening of May 8, Bitcoin's price broke through $100,000, reaching a new high since February, while Ethereum surged 20% in a single day! However, behind this celebration, nearly 200,000 retail investors were liquidated, with a total loss amounting to $968 million, of which $840 million were short liquidations.
However, institutions are quietly positioning themselves. Besides BlackRock and Grayscale, U.S. listed companies like Semler and Thumzup are aggressively increasing their Bitcoin holdings. Even New Hampshire has passed a bill allowing the state government to hold Bitcoin as a strategic reserve.
An industry insider lamented: 'Retail investors are chasing highs and selling lows, while institutions are secretly bottom-fishing. This is the harsh reality of the cryptocurrency market!'
V. Conclusion: How will the market move next?
The current crypto market is truly 'some are happy while others are sad'. Whales are liquidated, institutions are increasing positions, and retail investors are trampled... Various dramas are unfolding one after another. However, one signal is worth noting: the fear and greed index has returned to the greedy range, and market sentiment is warming up.
In the future, will ETH continue to rise, or will it see a correction due to the whale's liquidation? How will the actions of Grayscale and BlackRock affect the market? Let's wait and see!
Just a final reminder: there are risks in the cryptocurrency market, and investments should be made cautiously. Don't imitate that whale, shorting with 25x leverage can really lead to big losses! #ETH $ETH