A major crypto whale took a significant risk by liquidating substantial holdings of HYPE and Fartcoin to fund a highly leveraged position in Ethereum. This move has resulted in an exposure worth over $226 million, but also exposes the whale to potentially large losses. The whale started by selling nearly $41 million worth of HYPE and Fartcoin tokens, generating a realized loss of $1.14 million. The proceeds from these sales were then used to enter a 15x long position on Ethereum at a cost basis of over $226 million. This position now shows unrealized losses of nearly $13 million, with liquidation set at $4,075.70. The whale’s heavy reliance on Ethereum’s price movement highlights the significant risks associated with leveraging such a large amount of capital.