The cryptocurrency trader whose ultra-leveraged Ether (ETH) trade tested Hyperliquid’s limits on March 12 has entered another multimillion-dollar position, this time in Chainlink (LINK), onchain data shows.
On March 14, the anonymous whale, referred to on X as “ETH 50x Big Guy,” took out long positions in LINK worth approximately $31 million with 10 times leverage, according to Lookonchain, a Web3 analytics service.
He placed the bets on Hyplerliquid and GMX, two popular perpetuals exchanges, Lookonchain said in a March 14 X post. Additionally, the whale accumulated roughly $12 million in spot LINK.
In the ensuing hours, the whale gradually reduced his LINK holdings through small swaps back into stablecoins, as per onchain data.
Source: Lookonchain
Related: Hyperliquid ups margin requirements