「1011 Insider Whale」 Increases Long Position by Over 10,000 ETH, Position Size Rises to $180 Million

BlockBeats News, November 11th, according to Hyperinsight monitoring, the "1011 Insider Whale" has just increased its long position by over 10,000 ETH, bringing its ETH long position to 51,132 ETH, worth approximately 180 million US dollars. It is currently continuing to increase its position through limit orders (buying 1,867 ETH with a limit order at the $3520 position), and its 5x ETH long position currently has an unrealized profit of 2.94 million USD (+8.62%), with an average entry price of $3,462.

BlockBeats Note: The "1011 Insider Whale" previously accurately opened a BTC short position before the crypto market crashed on October 11th, earning profits of around 160 million US dollars, sparking widespread speculation in the community about its "insider trading" identity. Before October 11th, this address shifted a large amount of BTC to ETH from Hyperunit. Trader Garrett Jin, who represents this address, has publicly stated that these addresses belong to the "ultra-high-net-worth client hedging account" he manages. The client's funds exceed 10 billion US dollars and are often used for high-leverage hedging (10-50x). Jin emphasizes that this is legitimate hedging, not insider trading.