A trader opened a high-risk long bet on Ethereum (CRYPTO: ETH) just before the cryptocurrency's dramatic Wednesday surge, locking in paper gains of over $6 million. Perfectly-Timed ETH Trade Raises Eyebrows The whale initiated a 4x leveraged long position in ETH on the decentralized perpetual trading platform Hyperliquid at an entry price of $1,936, according to Lookonchain.