Investor Sells 35,000 Ethereum, Opens $1.31 Million 3x Position in Bitcoin

Garrett Jin opened a 3x long position in Bitcoin after selling 35,001 Ethereum.

Lookonchain reported that Garrett Jin sold 35,001 ETH for approximately $87.5 million at the $2,500 level, and following the sale, opened a 3x long position in Bitcoin. In a previous update, it was noted that Jin had withdrawn the same amount of ETH from Binance and deposited it into Hyperliquid.

Garrett Jin’s Hyperliquid Positions

On the Hyperliquid dashboard, the transaction address associated with Garrett Jin shows a BTC long position value of approximately $1.31 million. While the leverage level of the position is listed as 3x, the entry price for Bitcoin is at the $78,000 level.

A 3x short position for ZEC is also visible on the same screen. The value of this position on the dashboard is approximately $55.64 million. The image shows that the Bitcoin long and ZEC short positions are held in the same account; however, it does not confirm that the Ethereum sale funded either of these positions.