Did It Know Something? Woke Up 4 Years Later, Shorted Ethereum and These Altcoins!

A crypto whale that woke up after years transferred $2.96 million USDC withdrawn from Coinbase to Hyperliquid, opening leveraged short positions and made a profit of $2.4 million within 4 hours.

According to data shared by the on-chain analysis platform Lookonchain, an investor who had been inactive for 4 years attracted attention by withdrawing $2.96 million worth of USDC from Coinbase. After depositing these assets into the decentralized derivatives platform Hyperliquid, the whale opened high-leverage short positions in several cryptocurrencies, achieving a profit of $2.4 million in just 4 hours.

Among the assets traded by the whale are Ethereum (ETH), Pepe (PEPE), dogwifhat (WIF), and Optimism (OP). The fact that all transactions were carried out in a short period and with high leverage raises questions about whether the investor might have anticipated a market decline.