On-chain ETH largest long position unrealized gains expand to $16 million, current position size reaches $203 million

Mars Finance reports that on March 16, according to Coinbob’s popular address monitoring, the “ETH Wave Master” address (0xa5b0) has increased its total unrealized profit on long positions to $1.6 million, with a total holdings of $203 million. This address is currently the largest long position holder on both BTC and ETH on the Hyperliquid platform. Its ETH long position was opened on February 9 and has not been closed since February 15, continuing to be bullish. Its main positions are as follows:

• 15x ETH long: approximately 70,000 ETH, worth about $152 million, at an average price of $1,991, with an unrealized profit of $13 million (128%);
• 20x BTC long: approximately 700 BTC, worth about $50.8 million, at an average price of $68,420, with an unrealized profit of $2.93 million (114%); This whale previously established ETH long positions worth over $100 million at the end of last year and fully closed them in February this year. Recently, it has been rebuilding positions and has received multiple transfers from Matrixport, suspected to be related addresses.