On the first day of 2026, a cryptocurrency trader named 0xea66 conducted a coordinated market action. On-chain records following Lookonchain show that a trader deposited 8 million USDC into Hyperliquid and opened a series of leveraged longs. This trader did not hedge risk or diversify direction, but rather had a bullish thesis. This bold move predetermined one of the most anticipated deals of early 2026.
Leverage exposure reaches $24 million
The trader increased his exposure to 11 altcoins and Bitcoin with moderate leverage, creating a total market position of approximately $24 million. Traders used an average of 5x leverage, combining aggressive upside exposure with controlled liquidation risk. Rather than focusing on a single asset, traders allocated capital to several high momentum tokens.
Some of the low and mid-cap altcoins had the highest returns in the portfolio. More money invested speculatively in high-beta stocks has led to explosive gains from tokens like $XPL, $IP, and $PUMP. On-chain data shows that some positions have returned more than 150% compared to Bitcoin’s movement over the same period. This distribution reflects a calculated bias towards upward volatility.
Unrealized profit before tax reached 2.85 million
It only took a few days for all 12 open positions to turn out to be profitable. This trader is operating on an unrealized gain of $2.85 million, representing 64% of his capital. The account valuation was above the $10.8 million mark, indicating the sum of price appreciation and leverage efficiency. Traders are not liquidating their positions, which shows that confidence in the trend is increasing.
The trader entered the market at the beginning of the year when sentiment in the crypto market turned bullish. Bitcoin has stabilized and altcoins have become the subject of new speculative interest. The liquidity situation has improved and risk appetite has increased within derivatives platforms. This combination increased returns and minimized the risk of early drawdowns.
Whale behavior is a bullish barometer
Trades with greater direction tend to convey greater market sentiment. Going long without an explicit hedge indicates that the trader believed the downside risk was minimal. On-chain analysts see this behavior as whale-level confidence in a persistently positive period. Such deals are often accompanied by retail optimism and copy trading. Despite this impressive performance, leveraged trading has its own risks. Unrealized gains can be wiped out in the short term in the event of a sudden reversal, volatile spike, or macro shock. The trader’s approach lies in disciplined risk management and timely exits.
Unrealized profits do not guarantee realized profits. Unrealized Gains in the Case of Trader 0xea66 Trader 0xea66 made one of the most important and successful trades in cryptocurrency trading in early 2026 by going all-in leveraged long. This trade comes with perfect timing and great conviction with profits on each position and an unrealized profit of 2.85 million. Although risks exist, this move signals whales’ increasing confidence that the crypto bull cycle will not end in 2026.
