Crypto Whale Dumps HYPE and Fartcoin to Fund $226M Ethereum Long Position

Whale liquidated $41M in HYPE and Fartcoin, realizing a $1.14M loss.

Proceeds funded a $226M Ethereum long at 15x leverage.

Position now shows $13M losses, with liquidation set at $4,075.70.

A major crypto whale has shifted trading strategy by liquidating large altcoin holdings to enter a heavily leveraged Ethereum position. The address recorded a sharp change in portfolio allocation after offloading nearly $41 million in assets. The funds were then redirected into a 15x long worth over $226 million on Ethereum, exposing the account to significant risk.

The account now holds a total balance of $21.9 million, with $21.26 million locked in perpetual contracts and $639,780 in spot holdings. No balances remain in vaults or staking pools. The single Ethereum trade dominates the wallet, making it the core driver of account performance.

Exit from HYPE and Fartcoin

According to a Lookonchain post on X, the transaction records show the whale sold 886,287 HYPE tokens, valued at approximately $39.66 million. The sales took place at prices between $42.44 and $43.50, with most routed to liquidity pool HIP-2. The trades occurred in consistent blocks of around 11,500 tokens, each near $499,000 in value.

In addition, the whale sold 1.63 million Fartcoin tokens, receiving $1.27 million in proceeds. One sale involved 175,669 tokens at $0.78151, worth $137,288.44. Smaller disposals included 4,000 to 6,809 tokens, producing returns between $3,120 and $5,311. Combined, these exits recorded a realized loss of $1.14 million.

Ethereum Long Faces Pressure

Following the altcoin sales, the whale opened a 51,691 ETH-USD contract long at an entry price of $4,630.49. With Ethereum currently trading at $4,377.10, the position shows an unrealized loss of $13.09 million. Accrued funding charges total -$34,487.60, further increasing the account’s exposure.

The liquidation threshold for this trade is $4,075.70, leaving a narrow margin against downside movements. At 15x leverage, each price swing produces amplified effects on unrealized results, making the portfolio almost entirely dependent on Ethereum’s direction.

The data confirms a complete restructuring of holdings, with capital redirected from HYPE and Fartcoin into a single Ethereum position. The realized losses on altcoin sales add to pressure from ongoing unrealized losses over time. With leverage magnifying outcomes, the account now faces heightened volatility risk as Ethereum trades closer to its liquidation point.