#binance #hype #zec #near
21/10/25 17:52 UTC-04

Trader Who Doubled Profits Opens $35M Long Position on Ethereum

A crypto trader who previously achieved 100% profit totaling over $3.2 million has taken a large bullish position on Ethereum (ETH).

According to Lookonchain, the trader opened a $35 million long position with 4x leverage, equivalent to 9,082 ETH at an entry price of $3,875.

Despite a modest unrealized loss of about $112,619 (-1.28%), the trader remains fully committed to a 100% long exposure on Ethereum.

His transaction history shows an impressive streak of profitable trades — in October alone, he secured six-figure gains several times, including $1.14 million from an ETH long and $1.38 million from a Bitcoin (BTC) long position.

The new Ethereum bet comes amid a market correction, as ETH’s price closely mirrors Bitcoin’s downward volatility.

Meanwhile, outflows from Ethereum ETFs have slowed but not stopped, and institutional capital remains a major driver of price recovery.

The trader may be anticipating hype around the upcoming Fusaka upgrade, scheduled for December 3, which aims to double Layer 2 throughput and reduce fees by 40%.
However, it’s worth noting that the impact of such upgrades has recently become less pronounced.

See also: "ChatGPT Loses 40% of Its Capital in Three Days Trading Cryptocurrencies"

#Ethereum (ETH) #Buy

Editor: Yulia Krasnaya
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