From on-chain data, recent leverage traders' position allocations have shown interesting changes. An active contract trader's account currently has a total unrealized profit of over $1.06 million, and they have opened long positions in both ETH and HYPE.

This dual-directional scaling approach is worth noting. Generally, when large holders increase their long exposure across multiple tokens simultaneously, it tends to attract follow-trading by other traders. Smaller accounts in the market tend to track the actions of these leading players, creating a certain degree of herd behavior.

From a trading strategy perspective, combining contract leverage with spot accumulation provides a more flexible layout in volatile markets. The contract portion can capture short-term price fluctuations, while the spot holdings lock in long-term directional judgments. ETH, as the second most mainstream coin in the market, often leads the overall sector's sentiment; HYPE, as a newer hot asset, represents capital seeking growth opportunities.

Currently, market participants' attention to these two directions is increasing, which may indicate that bullish forces are gradually gathering.