Employees of the Arkham analytical company reported that the moneybagger opened long positions to buy BTC worth $37 million and ETH worth $18 million on the futures market on the Hyperliquid exchange. Judging by the transactions made by Keith, he financed these transactions with USDC (USDC) stablecoins withdrawn from the Binance trading platform on November 3 at about 20:30 Moscow time.

Transfers made recently by Hyperunit

The rich trader took a big risk by deciding to go long, because there is a downward trend in the bitcoin and ethereum markets. BTC has lost 12.5% in price over the past month and is now worth about $104,000. ETH feels even worse because its exchange rate has dropped by 18.95% to $3,500.

Nevertheless, previous deals have brought Hyperunit profits. In particular, he earned $200 million by opening short positions in bitcoins before the October dump of the cryptocurrency exchange rate and after the collapse he made two more profitable operations on shorts. In other words, the fact that he began to prefer longs indicates his confidence in the upcoming reversal in the market.

Hyperunit became famous for buying $850 million worth of bitcoins in 2018, when a bearish trend was raging. He persevered with the coins until their value exceeded $10 billion, thus increasing his capital by almost 12 times.