Trader turns $110 million ETH long position from loss to profit

According to Arkham, a trader identified as 0x039 established an 8x leveraged ETH long position on Hyperliquid two weeks ago. The position, valued at $114.37 million, previously faced a floating loss of $4.9 million when ETH dropped to $2,372. With the price of ETH recovering above the entry point of $2,486, the position has shifted to a profit of $1.98 million.