Anonymous ETH Whale Makes Multi-Million Dollar Bet on Chainlink

# High-Leverage Trader Moves from Ethereum to Chainlink with Multi-Million Dollar Position An anonymous whale trader, renowned for unsettling the Hyperliquid exchange with high-leverage Ethereum trades, has now taken a substantial position in Chainlink (LINK), amounting to tens of millions of dollars. According to the Web3 analytics platform Lookonchain on March 14, the trader, known on social media as ‘ETH 50x Big Guy’, has established a $31 million long position in Chainlink on futures exchanges including Hyperliquid and GMX, utilizing 10x leverage. Additionally, the trader purchased $12 million worth of Chainlink in the spot market. Over several hours following the position, on-chain data indicates the trader incrementally reduced their Chainlink holdings through small-scale swaps into stablecoins. Earlier, on March 12, the anonymous trader intentionally liquidated a $200 million long position in Ethereum, resulting in a $4 million loss for Hyperliquid’s liquidity pool (HLP) but securing a personal profit of $1.8 million. Lookonchain estimates this trader’s earnings on Hyperliquid have reached $17 million over the past month. Hyperliquid confirmed the trader’s actions were not exploits but rather predictable outcomes under extreme conditions of the trading platform’s mechanics. However, Hyperliquid has revised collateral rules for traders with open positions to prevent similar situations in the future. Meanwhile, Chainlink (LINK) experienced a price surge of over 150% following former President Donald Trump’s election victory. Despite this, as of December, LINK's price peaked at around $30, but has since fallen back to under $14 as of March 14, according to data from Coingecko. Chainlink’s current market capitalization stands at roughly $8.7 billion.