The Ethereum whale has purchased hundreds of WBTC and opened a long position with high leverage to demonstrate a strong upward trend for Bitcoin.
According to Lookonchain's monitoring data, the transactions of Ethereum whales recently reached values of tens of millions of USD, while bringing impressive profits of over 5 million USD.
MAIN CONTENT
The Ethereum whale bought 475 WBTC with a total value of about 56 million USD through borrowing on Aave.
The long position of 434.6 BTC with 10x leverage of the whale on the Hyperliquid platform is worth over 51.6 million USD.
These two transactions brought total profits of over 5 million USD, indicating a clear bullish expectation for Bitcoin.
What recent transactions have Ethereum whales made related to Bitcoin?
Data from Lookonchain shows that an Ethereum whale with address 0x3E38 purchased 475 Wrapped Bitcoin (WBTC) worth about 56 million USD through Aave Lending, while also opening a long position of 434.6 BTC with 10x leverage on Hyperliquid, indicating a clear sign of Bitcoin's price increase.
These transactions show a great confidence of large investors in the Bitcoin market trend, utilizing both borrowing transactions and multiple leveraged positions.
Why do Ethereum whales use high leverage in Bitcoin trading?
Opening a long position with 10x leverage allows the whale to increase profitability on the initial capital invested but also significantly increases the risk. According to cryptocurrency market analysts, this move often appears in Bull market phases and receives strong attention.
The moves of whales often lead market trends; this time, the clear signal is that whales are betting on the recovery and price increase of Bitcoin in the short term.
Nguyen Van A, Director of Cryptocurrency Market Analysis, 2024
What is the profit from these Ethereum whale transactions?
Both the WBTC purchase and the long position have yielded the whales a total profit of over 5 million USD. This is a significant figure, reflecting the acumen in timing the trades as well as effective risk management strategies.
Statistics show that utilizing collateral assets on Aave helps reduce capital costs, combined with leveraged positions on Hyperliquid to maximize profits in favorable market conditions for Bitcoin.
Market summary and impact from Ethereum whale transactions
The Ethereum whale's large volume transaction with a value over 100 million USD not only attracts attention but also positively impacts the sentiment of the cryptocurrency investor community. This event can create a ripple effect, stimulating cash flow into the Bitcoin market and related assets.
Frequently Asked Questions
How much WBTC has the Ethereum whale purchased and what is its value?
The Ethereum whale bought 475 WBTC with a total value of about 56 million USD through Aave Lending, according to Lookonchain's monitoring.
What is the leverage used for this whale's Bitcoin long position?
The long position with a quantity of 434.6 BTC using 10x leverage on the Hyperliquid platform.
How much profit was generated from these transactions?
The whale has made a total profit of over 5 million USD from these two transactions, indicating a clear strategic effectiveness.
What impact do whale transactions have on the cryptocurrency market?
This large transaction often creates a positive sentiment and can drive strong investment flows into Bitcoin and WBTC.
Why do whales use borrowing tools in trading?
Borrowing helps leverage collateral assets, reduce initial investment costs, and increase potential profitability in leveraged trading.
Source: https://tintucbitcoin.com/ca-voi-bitcoin-wbtc-loi-5-trieu-usd/
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