ChainCatcher reported that, according to monitoring by on-chain analyst @ai_9684xtpa, an address deposited 3 million USDC at 19:53 and then opened a leveraged long position in ETH. The position size was 36,826 ETH, with 20x leverage, and was valued at $61.13 million.
The ETH long was opened at $1,620.6
The monitored data shows that the entry price for the ETH long position was $1,620.6. At the time of the disclosed figures, ETH was priced at $1,658.8, leaving the address with an unrealized profit of $1.608 million on the position.
USDC is a commonly used stablecoin in crypto trading, while ETH is the native asset of the Ethereum network. Because the address deposited funds and then established a large, high-leverage ETH long position, the transaction was categorized as whale movement.