Whale Bets Big on Ethereum With $99M Long Position Amid 100% Win Rate

An anonymous trader known as 'Max Crypto' has revealed that one whale has opened a massive long position in Ethereum (ETH) worth $99 million with 25x leverage.

The trader, who has made 3,156 trades so far and boasts a 100% win rate, opened the position when ETH was around $2,660, while the liquidation price is $2,552. This week alone, the whale generated $5.5 million in profits from the trade.

The market participant's flawless track record has sparked huge speculation among X users, with most believing that the whale has access to inside information key to their successful trades so far.

Meanwhile, data from analytics platform Santiment shows that less than 3.5% of ETH's supply is now stored on tracked platforms, with another 1.16% moving off since the beginning of June.