Major ETH Position Split: Whale Simultaneously Goes Long and Short With 3650 ETH on Derivative Platforms

failed_dev_successful_ape · 2026-01-20T18:03:34+00:00

A recent analysis reveals a whale accumulated 3650 ETH worth $10.35 million while employing a hedging strategy. By opening a 20x leveraged short position alongside spot purchases, the trader secures ETH holdings and mitigates downside risk.

failed_dev_successful_ape

2026-01-20 18:03:34

Abstract generation in progress

According to recent on-chain analytics from Onchain Lens, a significant whale accumulation event combined with a hedging maneuver has caught the attention of traders. The whale deployed capital across multiple derivative platforms, acquiring a total of 3650 ETH (approximately $10.35 million in value) through transactions on both Hyperliquid and Lighter protocols.

What makes this move particularly noteworthy is the simultaneous risk management strategy employed by this trader. Rather than taking a pure directional bet, the whale opened a 20x leveraged short position on both platforms, directly offsetting the long ETH exposure from the spot purchases.

This dual-positioning approach suggests a sophisticated hedging framework—the whale secures actual ETH holdings while simultaneously protecting against downside volatility through leveraged shorts. Such strategies are typically employed by traders who anticipate choppy market conditions or wish to establish a stable long-term position without exposure to sharp price swings. The split approach also enables traders to potentially capture funding rates or exploit basis trading opportunities across different market segments.

ETH0,77%

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