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News/ETH Is Lining Up for Trillions

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ETH Is Lining Up for Trillions

2 months ago·Neutral·Crypto News

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It's official: "Binance will cover all losses," as reported by their official X account. "As a precaution, all deposits and withdrawals are temporarily suspended." Given how large the hack was, this is a relief.
After the Binance hacker finished dumping all 217.5M $ENA ($33.93M), someone started going long on $ENA. A newly created wallet, 0xedc0, deposited 2M $USDC into Hyperliquid and opened a 3x long on 22.78M $ENA ($4.09M).

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The whale holding a 93,184 $ETH ($214M) long closed 36,517 $ETH ($80.56M) to avoid liquidation and still holds 56,667 $ETH ($125M). New liquidation prices: $2,122.44 and $2,129.72. The whale has lost over $38M in total.