Ethereum News Today: Anonymous ETH Trader Builds $300M Long Position Using Roll-Up Strategy

An anonymous address initiated a large ETH long position in April with an initial principal of 125,000 USDT, leveraging a roll-up strategy to amplify gains. According to on-chain data from Yujin Monitoring, the trader withdrew the funds from two addresses and began buying ETH via Hyperliquid using ChangeNOW and KuCoin when the price was at its yearly low of $1,490 [1].

As the price of ETH began an upward trend, the trader continuously added to the position using unrealized gains, effectively compounding the position. The number of ETH held in the position grew from a few hundred to 66,000 ETH, with the total position value reaching 300 million US dollars. The most recent addition to the position occurred at 9 a.m. on the previous day, indicating active and aggressive trading behavior [1].

At its peak, the position’s unrealized gains reached $43 million when ETH hit $4,788 two days ago. As of the latest data, the unrealized gains have slightly decreased to $24.78 million, likely due to ETH’s price consolidation or slight correction. The position is currently split into two main components: a 10x long of 44,916 ETH valued at $200 million with an unrealized gain of $17 million and a 10x long of 21,832 ETH valued at $100 million with an unrealized gain of $7.8 million [1].

The opening price for both positions is near $4,067 and $4,093 respectively, with liquidation prices just above $4,200. This suggests that while the position remains profitable, it is now operating in a relatively narrow risk margin, where a sharp decline in ETH’s price could trigger liquidation events.

The case highlights the power of leveraged positions and the importance of market timing in the crypto space. Starting with a relatively small capital and capitalizing on favorable market conditions, the trader has built a position worth hundreds of millions of US dollars in just a few months. The strategy, however, carries high risks due to the volatility of crypto assets and the leverage applied [1].

Source: [1] An address started a 125,000 U principal roll-up long position on ETH in April, with unrealized gains peaking at $43 million. (https://www.theblockbeats.info/en/flash/307682)