On-Chain ETH Largest Long Unrealized Gains Expand to $7 Million, Total Position Size Reaches $194 Million

On March 12, according to Coinbob's popular address monitoring, as BTC rebounds above $70,000, the "ETH Wave Master" address (0xa5b0) long position total unrealized gains expanded to $7 million. Its current position size is approximately 70,000 ETH, equivalent to $144 million, with an average entry price of $1,991, making it the largest ETH long position on the Hyperliquid platform.

Additionally, it also holds $49.3 million BTC long positions with an average price of $68,420. This address is currently the largest long position holder for both BTC and ETH, the two major cryptocurrencies on the Hyperliquid platform. Its ETH long position was opened on February 9 and has remained unclosed since February 15 until now, continuously showing a bullish outlook.

This whale previously established over $100 million ETH long positions at the end of last year and closed them all in February this year. It has recently re-entered positions, continuing its trading style of high selling and low buying with over $100 million volumes and swing trading. It has received fund transfers from Matrixport multiple times, suspected to be associated addresses.