Ether Whale Moves $20 Million in USDC to Hyperliquid for Oil Longs

A large Ether (ETH) holder moved $20 million in USDC to Hyperliquid and opened roughly $22.4 million in crude oil long positions after selling 12,468 ETH for a profit. The sale brought in 29.52 million USDC at an average of $2,368 per ETH. The holder realized an estimated $8.99 million gain on the tokens sold. The ETH had been bought at an average of $1,647 in early June using borrowed funds. On Hyperliquid, the holder opened positions in CL, which references West Texas Intermediate crude, and BRENTOIL, which references Brent crude. The holder was still adding to the positions when their combined value reached about $22.4 million. That figure measures the size of the oil positions; 20 million USDC was the amount transferred to the platform.

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