blockchainreporter.net
A crypto whale who previously invested in $ENA now allocates their capital to $HYPE according to blockchain data. Throughout the previous 17 hours, the large $ENA staker deposited 8 million $USDC into the Hyperliquid platform. The whale takes a long position in $HYPE while the token demonstrates an 8% upward movement in today’s trading market.
A whale deposited 8M $USDC into #Hyperliquid to go long on $HYPE in the past 17 hours!
— Spot On Chain (@spotonchain) February 14, 2025
This same whale was among the largest $ENA stakers from April to June 2024 but suffered a $13.01M loss (-43.5%) on the token.
The price of $HYPE is up 8% today. Will this bet on $HYPE turn… https://t.co/5mvm3jicbI pic.twitter.com/SCWJhTaq71
From Heavy Losses to a New Bet
This whale investor has many years of experience participating in high-risk cryptocurrency trades. Between April and June 202,4 the investor maintained a top position within $ENA staking. Their failed investment strategy resulted in $13.01 million worth of losses which amounted to 43.5% of their original funding.
The whale lost money through multiple transactions at Binance that involved withdrawing 23.24 million $ENA for $1.29 before selling 19.36 million $ENA for $0.73 resulting in a total $10.84 million loss. The remaining 3.88 million $ENA holds an unrealized loss of $2.24 million while all combined assets amount to $13.07 million in losses or -44%.
Switching to $HYPE: A Fresh Start?
The investor continues to actively trade after suffering major financial losses. The whale deposited 8 million $USDC into Hyperliquid in a move likely to purchase $HYPE tokens while the token experienced an 8% upward shift in today’s market. The whale’s actions indicate they believe in future price potential after facing $ENA losses.
Will This Move Pay Off?
Because of their significant market power, this whale creates market sentiment that stems from their investing activities. The substantial ownership of $HYPE tokens by this investor presents an optimistic impression according to their previous investment behavior patterns. This strong investment strategy causes observers to wonder if it will lessen their $ENA market losses but some believe it may result in another dangerous financial decision.