Whale Trader Bets Big on Ethereum with $23.5M Long Position

A massive whale trading account known as Swift Recovery Orca has taken a significant long position on Ethereum, betting over $23.5 million that the cryptocurrency will continue to rise.

The account, which has grown from zero to $4.8 million in just five days, is using 100% of its value to invest in a single long entry with 20x leverage on Hyperliquid, a trading platform.

This aggressive strategy has sparked debate among traders, with some wondering if it's an institutional entry or simply a high-risk gamble.

The account's owner appears to be banking on the current trend of Ethereum ETF inflows and regulatory optimism to drive prices up.