Hyperliquid Trader Doubles Down with Long ETH Position Amid Market Dip

Despite a recent dip in the Ethereum (ETH) price below $1,500, a trader on Hyperliquid has initiated a significant long position. The trader deposited $70 million worth of USDC into the platform and opened a long position with 20X leverage, resulting in a trade size of 47,253 ETH. This move underscores their confidence despite the current market volatility, as the trader appears to be betting on a potential upward trend.