Dev Balina Longed 30 Million Dollars Worth of Ethereum.

As volatility continues in the cryptocurrency market, significant moves by major investors are being observed. Recently, the fluctuations in the price of Ethereum (ETH) have increased investor interest. In this context, a new wave is expected in the market with the opening of a massive position on the Hyperliquid platform.

According to on-chain data, a wallet with the address 0x6988 opened a long position worth approximately 30.3 million dollars in Ethereum on the Hyperliquid exchange. For this transaction, the investor utilized 25x leverage, executing a long trade of 7,929 ETH. The liquidation level of the position has been set at 3,280 dollars.

Experts emphasize that leveraged trades of this magnitude can have significant effects on the cryptocurrency market. Analyses show that large positions can increase market volatility and may lead to sudden movements in the Ethereum price. It has been observed that when such aggressive trades are opened, the price of Ethereum typically exhibits high volatility in the short term.

In recent weeks, large-scale leveraged trades occurring on platforms like Hyperliquid are capturing the attention of market investors. These types of movements may influence the short-term price direction of Ethereum. However, the use of high leverage also brings the risk of liquidation. It is crucial for investors to continue monitoring the critical levels of Ethereum.