Lookonchain
A Matrixport-linked whale is doubling down on Ethereum even as the broader market sells off. Across four wallets tracked on HypurrScan, the trader now holds 114,160 ETH — worth roughly $248.65 million — in long positions, absorbing $10.3 million in unrealized losses without flinching.
The conviction carry is notable given the whale's track record: the same entity previously booked $59 million in profit on ETH trades, suggesting this isn't a retail holder averaging down in panic but a sophisticated player with a defined thesis and the balance sheet to ride out drawdowns.
For ETH watchers, the signal is structural: a high-conviction, well-capitalized long is growing its position into weakness, not trimming it. That kind of accumulation during a dip has historically preceded meaningful recoveries — though the $10.3M in open losses is a reminder that even the sharpest whales aren't immune…
CoinTelegraph
Whale Alert