A significant cryptocurrency trader identified by wallet address 0x4a20 has opened a $64.6 million leveraged long position on Ethereum with 25x leverage through derivatives platform Hyperliquid. This marks one of the largest single bullish bets on ETH to date.
Additionally, the whale holds a $37.33 million Bitcoin long position utilizing 40x leverage and leveraged positions on altcoins HYPE and PEPE, both employing 10x leverage. The altcoin positions further demonstrate the trader’s high-risk, high-conviction strategy across multiple digital assets.
These aggressive positions have contributed to Hyperliquid’s total exposure reaching $73.66 million, emphasizing how large-scale leveraged traders increasingly influence cryptocurrency market dynamics through derivatives platforms.