PANews reported on December 10th that, according to on-chain analyst Yu Jin, during the early morning surge in ETH prices, a whale who started going long on ETH at $3048 two days prior transferred 50 million USDC to Hyperliquid to continue going long on ETH. Currently, his ETH long position has a floating profit of $17.72 million.

In the past two days, he transferred a total of 120 million USDC into Hyperliquid and then went long on ETH (81,000 ETH) worth $269 million. The average opening price was $3,108.