Two wallets, same energy — and a huge ETH bet rocking Hyperliquid.

This one’s hard to ignore. Two separate addresses have been steadily and aggressively loading up on $ETH longs, now totaling over 95,000 ETH combined — roughly $190M. That puts them at #1 and #2 ETH long positions on Hyperliquid right now. Massive size, confident timing… maybe even a bit too confident.

The first wallet, 0x6C8512516Ce5669d35113A11Ca8B8DE322fD84F6, moved quickly. Within the last three hours, it bridged $21.798M USDC as margin and opened a 40,000 ETH long at 20× leverage, worth about $80.39M, with an entry near $2,039.43. Price didn’t move in its favor — the position is currently sitting around $1.17M in unrealized losses.

Then comes the bigger player. Wallet 0xa5B0eDF6B55128E0DdaE8e51aC538c3188401D41 now holds the largest ETH long on Hyperliquid. It opened a 60,000 ETH long last night, roughly $120M, entering at $2,059.8. Same outcome so far, just on a larger scale — about $2.9M unrealized loss at the moment.

What makes this more than just two whales throwing size around is the pattern. Both margins were bridged from Tron to Arbitrum, following similar routes, timing, and behavior. Could be coincidence… or could be one entity splitting exposure across wallets.

Either way, this is one of those moments where you step back, watch price action unfold, and realize: someone is betting very heavily on $ETH making the next move first.