A popular Hyperunit whale has withdrawn $110 million from Binance to add to an Ethereum position worth over $540 million.
The whale also holds Bitcoin and Solana longs worth $90 million and $33 million, respectively.
Bitcoin, Ethereum and Solana remain under pressure since the Fed's hawkish rate cut.
A major crypto whale has opened a long position in Ethereum (ETH) worth more than half a billion dollars on the Hyperliquid exchange.
According to Arkham Intelligence data, the entity, popularly known as the $10 billion Hyperunit whale, pulled $110 million from Binance on Friday to add to an ETH position now worth over $540 million. The whale is holding an unrealized loss of $14.4 million on this position.
The Hyperunit whale also holds long positions in Bitcoin (BTC) and Solana (SOL) worth $90 million and $33 million, respectively.
Known for turning $850 million in BTC accumulation into a $10 billion portfolio, the whale's action in the past few months has coincided with key price movements in the crypto market.
During the October crash, the whale executed BTC shorts totalling $485 million, gaining over $200 million as prices tumbled.
Bitcoin, Ethereum remain weak following Fed's action
The crypto market has been under pressure since the Federal Reserve (Fed) delivered a hawkish rate cut on Wednesday. Despite lowering rates by 25 basis points, the agency maintained a cautious tone, with Fed officials anticipating only one rate cut in 2026.
Bitcoin has declined by 4% since the decision, testing the $90,000 level at publication time on Friday.
Ethereum is down 4% over the past 24 hours, extending its loss since Wednesday to 8% after breaching the $3,100 level. Solana has also faced its fair share of loss, declining by 7% since the Fed's decision.
