Whale's High-Stakes ETH Gamble: $125M Leveraged Bet Nears Breaking Point

Brother Whale Huang Licheng currently holds a massive long position of 27,400 ETH with 15x leverage, according to multiple sources tracking large on-chain movements in the cryptocurrency market. His entry price averages $4,353.47 per ETH, with a liquidation price of $3,110.64, indicating the position is highly sensitive to Ethereum price volatility. As of the latest data, Huang Licheng is facing an unrealized loss of approximately $26,800 due to recent price corrections in the market. Despite this, the account has been highly profitable over the past week, generating $2.21 million in profit and maintaining a total balance of $35.9 million [4].

Earlier in the week, Huang Licheng closed out his long positions in HYPE, PUMP, and BTC, securing profits of $1.325 million, $92,000, and $42,000 respectively [4]. These exits reflect a strategic reallocation of capital toward the ETH position, which remains a core component of his portfolio. The increased leverage—now at 15x—highlights the high-risk, high-reward nature of his current exposure. Huang’s ETH position is valued at approximately $125 million, with an unrealized loss of $1.8 million [3]. His entry point of $4,363.64 is notably close to the current price, suggesting limited exposure to further price depreciation in the short term, though long-term risks remain elevated.

The broader market environment appears to support aggressive leveraged positions, with several indicators pointing to strong speculative activity. Data from HyperInsight shows that Huang Licheng previously increased his ETH holdings by 1,400 ETH, pushing the total value of his position beyond $130 million [1]. This move was made at a time when Ethereum faced a potential liquidation price of $3,321, indicating significant leverage and exposure. Meanwhile, the current 8-hour average funding rate for ETH across major exchanges stands at 0.0062%, indicating relatively balanced short-term market sentiment [1].

Further insights into Huang Licheng’s portfolio reveal that he maintains long positions in other high-volatility assets. For example, his 10x leveraged HYPE position is valued at $16 million and is currently showing an unrealized profit of approximately $600,000 [3]. The BTC position is leveraged at 40x, valued at $7.7 million with a profit of $30,000. The PUMP position, at 5x leverage, is valued at $4.66 million, but faces an unrealized loss of $100,000. These figures underscore the diversified and leveraged nature of his strategy, with a clear tilt toward speculative assets [3].

The broader crypto market is also witnessing a shift in dynamics, with increased activity in leveraged trading and concentrated positions among large whales. For instance, a recent whale activity involved the full liquidation of 932.5 million WLD tokens over 12 days, generating a profit of $888,000. This exemplifies the high-velocity, high-risk nature of the current market environment, where large-scale movements can occur rapidly and yield significant gains or losses [2].

Analysts suggest that the market remains in a high-leverage environment, with major CEXs experiencing large liquidation events if ETH drops below $4,229. The cumulative long liquidation intensity on major exchanges could reach $2.678 billion under such conditions [1]. This underscores the potential for sudden and large-scale market corrections, particularly among leveraged positions, which are now a defining feature of the current crypto trading landscape.

Source:

[1] Data: Huang Licheng increased his position by 1400 ETH, ... (https://www.chaincatcher.com/en/article/2202725)

[2] Latest Crypto News and Cryptocurrency Prices | Gate.com (https://www.gatebase.net/news)

[3] Machi Big Brother Huang Licheng holds long positions in ... (https://www.bitget.com/news/detail/12560604954648)

[4] closed out his long positions in HYPE, PUMP, and BTC, but ... (https://www.odaily.news/en/newsflash/447267)