20x leverage profit in Ethereum plunge… Large buyers and retail investors are mixed

During the sharp decline when Ethereum (ETH) dropped to the early $1,400 range, some large investors interpreted this downturn as a short-term bottom signal and began investing. Following an investor who made a profit of 2.7 billion won using leveraged positions, large-scale spot buying was also confirmed. In contrast, individual investors have turned to a wait-and-see attitude, distancing themselves from the market.

According to the on-chain analysis platform Hyperscan on the 8th, a large investor entered a 20x leverage long position on ETH at $1,459 on the 7th at the decentralized derivatives exchange Hyperliquid. The total scale is 47,253 ETH. The liquidation price of this position is $1,391.7, meaning that if the ETH price falls below this, the entire margin will be liquidated. After the ETH price rebounded, the investor closed the entire position in the $1,499-$1,510 range. Based on Hyperscan, they made a profit of about $1.87 million (approximately 2.7 billion won). They entered during the short-term sharp decline and achieved results in just a few hours.



During this crash, some large wallets began additional purchases through ETH spot buying. According to on-chain data analysis company LookOnChain, two wallet addresses purchased an additional 15,191 ETH on the 8th. An investor with the wallet address starting with '0x5fAD' bought 24,299 ETH at an average of $2,343 since February 11th. Currently, they are in an unrealized loss of about $19.36 million. Another wallet address '0x96F4' purchased 22,000 ETH at an average of $1,709 in the past 6 days, also recording a loss of about $3.6 million.

In contrast, individual investors are leaning more towards observation rather than trading during the downturn. Popular posts in workplace-centered communities in the cryptocurrency sector gained sympathy with comments like "Now is the time to delete the coin app and rebuild seed money with salary". Comments like "Adding to position is meaningless" and "Just focus on real life" spread, creating an atmosphere where individual investors want to maintain psychological distance from the market.

Meanwhile, ETH recovered to the mid-to-late $1,500 range at 4:53 PM on the 8th, showing a rebound trend. As investors who bought at the short-term bottom have entered the profit zone, market attention is focused on whether the upward trend will continue.

Reporter Do Ye-ri

yeri.do@sedaily.com