Whale Drops 16,270 ETH Long – Hype or Havoc?

by

Nice, Ethereum decided to start the week with a moody exit sign. It slid to a low of 1,994 in the early Tuesday sesh, and as I write this, it’s hovering around 2,010, still in the red, down 1.28% in 24 hours and down 12.26% for the week. Fabulous, right?

Amid the price mood swing, a brand-new whale with a contrarian flair is stealing the spotlight like a dramatic monologue in a small theatre.

In a recent tweet, Lookonchain revealed that a freshly minted wallet dumped 12.88 million USDC into Hyperliquid to go long on ETH with 20x leverage. So far, the move racks up a long of 16,270 ETH, worth about $33.38 million. This single act has people whispering about a potential “super bull.”

HOT Stories
Morning Crypto Report: a Bitcoin whale who has been quiet since 2019 returns with a splash, XRP opens a rare 5% setup window, and Sam Bankman-Fried swears FTX was never bankrupt-because why not add a plot twist to the week.
Ripple’s CTO Emeritus Defends XRP Genesis Against Centralization Claims

Another ETH super bull is here.

A newly created wallet, 0x6C85, deposited 12.88M USDC into Hyperliquid to go long ETH with 20x leverage.

So far, he has opened a long of 16,270 ETH ($33.38M)

– Lookonchain (@lookonchain) February 10, 2026

“Another ETH super bull is here. A freshly minted wallet, 0x6C85, dropped 12.88 million USDC into Hyperliquid to go long ETH with 20x leverage. So far, it’s opened 16,270 ETH ($33.38 million),” Lookonchain reported.

All eyes on $2,000?

Ethereum has been wobbling in a sideways shuffle over the last four days, between 1,994 and 2,150. A crucial line has appeared: $2,000. Ali Charts paints two futures-either a rebound or a breakdown-depending on how the next act plays out.

If the price closes decisively above 2,150, the ascent could push toward 2,447. That level is a real gatekeeper; clear breakout above it could signal bearish momentum waning and pave the way to the 50-day SMA near 2,877.

A drop below 2,000 could spell trouble for Ethereum, potentially targeting 1,750 and then 1,537.

Derivatives data tell a story of risk-off sentiment: open interest is slipping, and funding rates are negative, which is a fun way of saying traders are less optimistic than a cat who just heard the can opened.

This week, markets brace for a backlog of data delayed by the partial government shutdown, which could nudge volatility up or down depending on how dramatic the headlines want to be. Key releases include January nonfarm payrolls on Wednesday (pushed from Friday), January CPI data on Friday, and weekly initial jobless claims on Thursday.

Read More

2026-02-10 17:59