BIT-Linked Addresses Boost ETH Long to 29,500 on Hyperliquid, Data Shows

BitcoinWorld BIT-Linked Addresses Boost ETH Long to 29,500 on Hyperliquid, Data Shows Addresses linked to the crypto options trading platform BIT, formerly known as Matrixport, have expanded their long position on Ethereum (ETH) on the Hyperliquid exchange, according to on-chain data shared by analyst ai_9684xtpa.

The cluster added an 8,000 ETH long position during an early-morning market decline on [date], at an average entry price of $2,440.49 per ETH. This latest purchase brings the cumulative position to 29,500 ETH, currently valued at approximately $72 million.

The position is now showing roughly $1 million in unrealized losses, reflecting the recent volatility in the cryptocurrency market.

Context and Significance BIT, originally established as Matrixport, is a Singapore-based digital asset platform that offers a range of trading and investment products, including options.