Lookonchain put the trader's new Ether (ETH) and Hyperliquid (HYPE) longs at about $42.9 million, following exits from Bitcoin (BTC), HYPE and Zcash (ZEC) that carried an estimated $6.09 million loss.
Lookonchain said the earlier positions were closed over a six-hour period. The subsequent trades consisted of an Ether long and a separate HYPE long.
Lookonchain said the trader then opened an Ether long covering 14,583 ETH and a separate HYPE long covering 117,871 tokens. It valued the Ether holding at about $33 million and the HYPE holding at about $9.9 million.
The estimated loss applies to the three closed trades. The roughly $42.9 million figure is the combined stated value of the two new positions. HYPE appeared in both the closed and newly opened trades, while Ether accounted for most of the new positions’ value, Lookonchain said.
A long position is designed to benefit if the asset’s price rises.
