Massive $44M Ethereum Bet Signals Fresh Bullish Move by Elite Hyperliquid Trader

An anonymous cryptocurrency trader on Hyperliquid—infamous for banking nearly $200 million during October’s market turmoil—has just locked in a substantial $44.5 million long position on Ether. This latest move marks a dramatic shift in strategy, pivoting from the profitable shorts that made them a crypto trading legend.

The Whale’s Latest Power Play

On Monday, the trader amplified their existing Ether holdings by $10 million, pushing the total exposure past $44 million. According to Arkham Intelligence’s blockchain tracking, the position swung into profitability within 60 minutes, generating over $300,000 in unrealized gains. This swift turnaround underscores why this wallet—tagged the “$10B HyperUnit Whale” across trading forums—commands such attention in the crypto community.

The trader first gained prominence through a series of masterfully executed short positions. Most notably, they capitalized on the October 10 downturn with precision timing, extracting nearly $200 million in profits as markets collapsed. That track record has transformed them into a closely monitored figure; Arkham Intelligence now flags their transactions as “unverified custom entity,” but every move generates analysis threads across trading Discord servers and X.

Reading the Market Signals

The shift to a long position on Ethereum carries symbolic weight in a market hungry for directional cues. While former BitForex CEO Garret Jin publicly denied wallet ownership last month (though acknowledging indirect ties), the identity question matters less than what the position reveals: a high-conviction trader betting on upside from current levels.

Ether is currently priced at $3.30K, down 1.90% over the past 24 hours. Yet the broader context suggests consolidation rather than capitulation—Bitcoin and other major assets have held ground, and on-chain metrics are drawing bullish interpretations from derivatives traders. By opening leveraged longs on Hyperliquid’s perpetual futures venue, this whale is wagering that Ether bounces from recent four-month lows and reclaims key resistance zones established earlier in the year.

What This Trade Means

For retail traders, the signal is clear: a trader who proved their market-reading skills during extreme volatility is now rotating into growth positions. Whether this foreshadows a broader market reversal or represents selective conviction in Ethereum’s specific prospects remains to be seen. What’s certain is that Arkham Intelligence and community analysts will continue monitoring every wallet adjustment—because when this trader moves millions, the crypto market takes notice.