TechFlow news, on August 16, according to on-chain analyst烬's monitoring, an address started long-only ETH with only $125,000 in April, which is now worth $25 million.
The address began going long on ETH from this year's lowest point: In April, it transferred $125,000 in USDC from ChangeNOW and Kucoin via two addresses into Hyperliquid to start long positions on ETH. The first long position was initiated at $1,490 per ETH, near the annual low.
Compounding unrealized profits like a snowball: Since initiating the long ETH position, ETH has continuously risen. Through repeatedly adding to the position using unrealized profits, the holder grew their position from several hundred ETH initially to now 66,000 ETH, with a current value of $300 million. The most recent addition occurred yesterday morning at 9 a.m.
Unrealized profit: Starting from $125,000, the current unrealized profit stands at $24.78 million. At ETH's peak price of $4,788 two days ago, the unrealized profit even reached $43 million.
Current positions across the two addresses:
- 10x long 44,916 ETH, position value $200 million, entry price $4,067, liquidation price $4,200, unrealized profit $17 million.
- 10x long 21,832 ETH, position value $100 million, entry price $4,093, liquidation price $4,198, unrealized profit $7.8 million.
