Matrixport-linked Whale Makes Massive ETH Bet at 20x Leverage

A large-scale Ethereum trade has been made by a wallet linked to Singapore-based Matrixport. The wallet deposited $10 million USDC and opened a leveraged long position on Ethereum worth $17.44 million at 20x leverage on Hyperliquid.

This is part of a larger pattern of institutional-scale leveraged ETH longs by Matrixport-linked addresses, ranging from 30,000 to 120,000 ETH at 15x to 20x leverage.

The large positions can significantly impact the market when opened or closed. According to Pluang, retail investors should be cautious as following such high-leverage trades carries significant liquidation risk.