"ETH Swing Master" unrealized gains have increased to $12 million, with no positions closed yet. Recently, successfully bottomed out BTC at an average price of $68,000.

BlockBeats News, March 5 — According to Coinbob’s popular address monitoring, the “ETH Wave Master” address (0xa5b0) currently holds a 15x leveraged long position in ETH, with unrealized gains expanding to $9.2 million (93%). Its current holdings amount to approximately 70,000 ETH, worth about $144 million, with an average entry price of $1,991.

Unlike the previous “buy low, sell high” trading style, this round, when ETH broke below the average price, it chose to hold its position steady and instead opened a second battlefield. On March 3, when BTC and ETH were both near short-term lows, it bought the dip in BTC at an average price of $68,170, with a position size of $47.1 million. As of now, this BTC long position has an unrealized profit of $2.8 million (118%), with a return exceeding that of its main ETH position.

This address is currently the largest long position holder for both BTC and ETH on the Hyperliquid platform, with total unrealized gains exceeding $11 million. It has not yet taken profits or closed positions, indicating a continued bullish outlook.

This whale previously established a multi-hundred-million-dollar ETH long position at the end of last year and fully closed it in February this year. Recently, it has reopened positions, continuing its high-volume, wave-trading style of buy low, sell high, and swing trading. It has also received multiple transfers from Matrixport, suggesting a possible connection between the addresses.