On-chain analytics account Lookonchain reported on August 20 that a new wallet on the decentralized exchange Hyperliquid had built a long position of 20,000 ETH and was sitting on unrealized gains of about 6.66 million dollars, or roughly 1.07 billion yen, at the time of posting. The wallet deposited 20 million USDC, about 3.2 billion yen, and used 4x leverage to build a long position equivalent to 20,000 ETH, with the position size reaching about 45.38 million dollars, or around 7.26 billion yen, at the time of posting. The move came amid a sharp rally in ETH on the 20th, when ETH briefly climbed to 2,311.8 dollars on Bitstamp, a gain of about 20 percent from the previous day's close of 1,916.5 dollars. In addition, the platform's core token HYPE also rose about 20 percent after US President Trump revealed on the 19th that CFTC Chairman Mike Selig was working on bringing Hyperliquid to the United States.
CFTC chairman working to bring Hyperliquid to US, boosting HYPE.
EthereumNew wallet opens large long position on ETH, indicating strong demand.
