Could a Major Move Be Brewing? Perhaps Ethereum’s Hold at $2,800—and a $40 Million Whale’s Reversal—Are the Clues.
A prominent Ethereum whale, previously profitable from short selling in October, has now taken a tens-of-millions-dollar long position in ETH—just as the asset retests the critical $2,800 support zone. Together, this new leveraged bet and key technical levels place Ethereum at a decisive inflection point, potentially shaping the next phase of its market cycle.

Whale Returns with Fresh $40 Million Ethereum Long
Arkham reports that a well-known whale—famous for netting roughly $200 million via short positions ahead of the October 10 crash—has re-entered the market with a large leveraged long in Ethereum. According to on-chain data, the trader deposited $10 million into Hyperliquid, rapidly scaling the position to a $44.5 million exposure.

Simultaneously, Arkham’s dashboard shows the account had already accumulated over $300,000 in unrealized profit within the first hour of activation. On-chain tracing further links these orders to the same entity previously managing billion-dollar balances across multiple networks—strongly suggesting this is the original “Hyperunit.”

This activity adds another major directional bet to the market as Ethereum tests a critical support band, underscoring how aggressive traders continue shaping intraday momentum through fast, high-leverage positioning.

Ethereum Revisits Key $2.8K Support Zone
Ethereum has returned to the $2,800 level—a zone that has alternately served as support and resistance throughout this cycle. A 3-day chart from Daan Crypto Trades shows price pulling back from recent highs and retesting this horizontal range following a sharp decline.

Currently, the candle sits just above the line, indicating buyers are actively defending the area after the latest selloff. Historically, prior visits to this level often preceded major swings: failure to hold led to deeper drops, while successful bounces opened room for rallies toward higher-range highs.

Traders now watch closely: Can buyers sustain ETH above this pivot? Or will a clean break below flip the $2,800 zone into resistance? Sustained movement in either direction will confirm the next trend—and set the tone for year-end price action.

VECS Commentary
Ethereum remains the foundational layer for countless major crypto projects—yet it struggles with relatively stagnant price appreciation and modest year-on-year growth. This duality weighs on investor sentiment: while crypto is fundamentally an investment asset, ETH’s muted price performance gives pause—especially for capital-allocators seeking appreciating returns. That said, Ethereum’s true value transcends price: its network infrastructure and ecosystem utility continue driving innovation across DeFi, NFTs, and real-world asset tokenization. Long-term conviction must balance market optics with structural relevance.