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Interestingly, a major trader who previously made nearly one billion yuan from ETH swing trading has now started using leverage.
Since yesterday, he has continuously transferred 15.5 million USDC to Hyperliquid, opening a 20x leveraged long position with 980 BTC (total account value approximately 90.87 million). The entry point was at $92,885, and currently, there is a floating loss of 150,000. It seems this whale not only wants to do spot swing trading but also aims to compete in the futures market. This kind of operation indeed carries greater risk.