Key Takeaways:
A whale associated with the digital asset platform Matrixport added a $68 million leveraged long position in Ethereum (ETH), bringing their total bullish bet to 58,000 ETH, worth approximately $132 million as of April 28.
"A Matrixport‑associated whale opened a new 30,000 ETH long position at 15x leverage," on-chain analytics platform Onchain Lens reported, noting the position was built across three separate wallet addresses.
The move involved adding 30,000 ETH with 15x leverage. This trader's total exposure is now spread across positions with leverage ranging from 15x to 20x. The same entity has a track record of profitable trades, having previously closed 120,000 ETH and 1,500 BTC longs for more than $59 million in profit in mid-April before re-entering the market. The new positions were opened as Ethereum traded near $2,287, down about 2.1% over the past 24 hours, with data showing transfers to exchanges like Binance, Bybit, and OKX.
The highly leveraged nature of the trade presents significant risk; a price decline of just 5% to 7% could trigger a liquidation of the position. However, the whale's history of successful timing suggests a strong conviction in Ethereum's potential for a near-term price increase, creating a focal point for traders watching for a potential market breakout above the key $2,277 support level.
This article is for informational purposes only and does not constitute investment advice.
