"O" Whale Who Earned 16 Million Turned For Altcoin: Giant Long Opened, Price Moved! - Coin Newsletter

The mysterious whale, which has attracted attention with its (ETH) leveraged transactions on Ethereum in recent weeks, has now come to the fore by opening a new multimillion-dollar position for the Chainlink (LINK).

According to the data of the on-chain analysis platform Spot On Chain, the unidentified whale, which previously made millions of dollars in profit with its huge transactions (BTC) in Ethereum and Bitcoin, this time deposited approximately 2 million 875 thousand dollars of USD Coin (USDC) on the Hyperliquid exchange. With this deposit, the whale opened a large long position using 10x leverage on LINK.

The whale also spent a total of $7.1 million in USDC in the last 30 minutes, buying 506,226 LINK. While the average price of their purchase was stated to be $14.03**, it was revealed that the whale sold 1,108.83 ETH on Ethereum for $2.1 million** and withdrew another $5 million USDC from the Spark platform. However, the whale's LINK position currently stands at a loss of about $194K.

Gained fame with past transactions

The same mystery investor has attracted the attention of the markets with his large-leverage trades on Bitcoin and Ethereum in the past. About a month ago, he completely closed his Bitcoin positions and switched to Ethereum, making a name for himself by opening leveraged ETH positions of more than $272 million.

The whale, which put Hyperliquid, which suffered a loss of $4 million with its transactions reaching 50 times leverage on ETH at that time, in a difficult situation, became the focus of the market with a huge gain of $16.4 million in the short term.

Chainlink price is experiencing great movement on the news of the fall. LINK is trading at $13.88 at the time of writing.