A new investor identified by the wallet address 0x6C85 has taken a bullish stance on Ethereum ($ETH) by depositing $12.88 million in USDC on Hyperliquid to open a long position involving 16,270 ETH, valued at approximately $33.38 million, utilizing 20x leverage. This move aligns with recent trends in decentralized finance (DeFi), where traders are increasingly using high-leverage perpetual contracts on platforms like Hyperliquid to take advantage of the volatility in the cryptocurrency markets. The growing bullish sentiment in the crypto community is also fueled by expectations of regulatory clarity and ecosystem expansions related to Ethereum.
Hyperliquid sees $33M ETH long position with 20x leverage
