On-chain ETH's largest long drawdown has recovered, previously unrealized gains of over $12 million were closed.

MarsBitNews · 2026-03-09T10:21:22+00:00

Mars Finance reports that on March 9, the ETH price rebounded above $2000. A major whale address holds approximately 70,000 ETH, with an unrealized profit of $700,000. This address is the largest long position for ETH and BTC on the Hyperliquid platform, with a trading style mainly characterized by high sell and low buy.

MarsBitNews

2026-03-09 10:21:22

Abstract generation in progress

Mars Finance News, March 9 — According to Hyperinsight monitoring, ETH has rebounded above $2,000. The address “ETH Wave Master” (0xa5b0) has returned to a long position, with unrealized gains of $700,000 (7%). Its current holdings are approximately 70,000 ETH, worth about $144 million, with an average entry price of $1,991, making it the largest long position on the Hyperliquid platform.

Currently, this address is also the largest long holder for both BTC and ETH on Hyperliquid. Its 15x leveraged ETH long position was opened on February 9 and has not been closed since February 15, indicating a continued bullish outlook.

This whale previously established ETH long positions worth over $100 million at the end of last year and fully closed them in February this year. Recently, it has re-entered the market, continuing its trading style of high buy and low sell, taking advantage of swings with over $100 million in volume. The address has also received multiple transfers from Matrixport, suspected to be related addresses.

ETH3,73%

BTC2,84%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

1 Likes