A newly created cryptocurrency wallet has started making massive leveraged bets against Ethereum. According to on-chain data, the wallet had approximately $30.7 million deposited. $USDC To hyper liquid. This money was used to open a 40,000 long position. $ETH. It’s worth about $80 million.
$ETH Super Bull 0x6C85 continues to go long by pouring money into Hyper Liquid $ETH.
So far, he has deposited 30.71 million $USDC and opened long 40,000 $ETH($80.92 million).
He may even add to his position.
Will the market liquidate this super bull? https://t.co/cJJqc3jjWF pic.twitter.com/S4C9CDXaSa
— Lookonchain (@lookonchain) February 10, 2026
This trade uses 20x leverage, significantly increasing your potential profit or loss. The position was opened around the $2,020 to $2,040 price range. Immediately after entry, the trade incurred an unrealized loss of over $1 million. The whale, identified as 0x6C85, appeared just hours before the transaction. Tracking accounts say traders may add more funds to their positions.
Build a huge position with fast deposits
The position did not appear all at once. The wallet was initially deposited with approximately $12.8 million. $USDC. This amount opened the first long position of over 16,000. $ETH. But traders kept sending more money. Within hours, the total deposits had grown to $30.7 million. The position has since increased to 40,000 $ETH In terms of size.
At current prices, the position is near breakeven. Still, the margin of safety is narrow due to high leverage. On-chain estimates suggest liquidation levels will be closer to $1,930 per transaction. $ETH. This means that a relatively small price drop can wipe out your entire position.
High-leverage bets capture market attention
Large-scale leveraged trades often attract attention across the cryptocurrency market. Many traders look to these positions as a signal of whale sentiment. Some see this move as a strong bet for Ethereum to rebound. Some consider it a risky gamble. At 20x leverage, even a 5% move in price in the wrong direction can trigger a liquidation. Similar trades have occurred in the past, causing rapid price fluctuations. If large positions are liquidated, the market may fall in the short term. This effect is stronger on perpetual futures platforms.
potential impact on $ETH market
For now, the position remains open and active. However, its size is important for short-term price movements. If Ethereum rises further, whales could make big profits. On the other hand, a fall towards liquidation levels could result in forced trades. This event could add selling pressure to the market.
Traders often keep a close eye on these large positions. They act as support and risk zones. If whales add more funds, the liquidation price may drop. Now, the market is waiting to see whether this high-stakes gamble will pay off or end in a costly liquidation.
