‘OG whale’ who called the October crash has a $44.5M long on Ether
Analysis
Price Impact
HighA 'og whale' known for previously calling market crashes and profiting $200m has opened a $44.5m long position on ether. this significant investment by a historically accurate whale could signal a strong bullish sentiment.
Trustworthiness
HighThe 'og whale' has a documented history of making highly profitable and accurate market calls, including the october crash, lending strong credibility to their current position.
Price Direction
BullishThe whale has opened a substantial 'long' position on eth, meaning they are betting on and expect the price of ether to increase.
Time Effect
ShortWhile a whale's long position can contribute to a sustained rally, the immediate impact is often seen in short-term price movements as other traders react to such a large, well-timed bet.
Original Article:
Article Content:
Brian Quarmby 1 minute ago ‘OG whale’ who called the October crash has a $44.5M long on Ether The Hyperliquid whale that made $200 million in the October crash has just added another $10 million to its long position on Ether. Listen 0:00 12 News COINTELEGRAPH IN YOUR SOCIAL FEED The infamous Hyperliquid “OG Whale” who made nearly $200 million from the Oct. 10 market crash, alongside a few other successful plays, has loaded up $44.5 million in Ether longs. The whale, known by some as the “$10B HyperUnit Whale,” who has yet to be officially identified, added $10 million to an existing long position on Monday, taking the total up to $44.5 million, according to data from blockchain analytics platform Arkham Intelligence. “He is currently long $44.5M of ETH and is up over $300K in less than an hour,” said Arkham in an X post on Monday. OG Whale wallet activity. Source: Arkham Intelligence Since last month, the whale has gained infamy for profiting handsomely through several well-timed market shorts. If they are right again, they would be capitalizing on a potential rally for Ether ( ETH ). The identity of the whale remains a mystery, with Arkham Intelligence listing an “unverified custom entity” alongside their wallet ID. Related: ETH price drops to 4-month low, but Ether futures data hints at bounce to $3.2K The former CEO of now-defunct crypto exchange BitForex, Garret Jin, has denied he is the owner of the wallet, but seemingly confirmed a connection to the person after some digging by blockchain sleuths last month. Alongside a broader surge across the crypto market, ETH has climbed 2% over the past 24 hours and is currently trading at around $2,900, according to CoinGecko data . Industry analysts and experts have been pointing to changes in futures data to argue that the crypto market may be forming a bottom , but it remains to be seen if the bulls or bears will take over. Magazine: Ethereum’s Fusaka fork explained for dummies: What the hell is PeerDAS? # Ethereum # Markets # Market Analysis # Whale Add reaction