Ethereum whale holds 228-day ENA long with 881% leverage return
Ethereum (ETH)
Editor:
Eugene Serbin
lookonchain.com reports that an Ethereum OG whale address starting with 0xeadc has maintained a long position in ENA for 228 days. The address holds approximately 10.0265 million ENA with an average entry price of $0.110537. This position is valued at around $2.0849 million and has generated an unrealized profit of about $976,600.
ENA has risen roughly 88.12% from the entry cost, resulting in a return of approximately 881.18% due to 10x full leverage. The whale currently holds 41 long positions with a total notional value of $69.8481 million and an overall contract leverage of 4.65x. ENA represents only 2.98% of the total contract exposure but ranks third in unrealized profits. It trails NEAR’s $1.3695 million profit and AAVE’s $1.0225 million profit.
This address entered the crypto market in 2017 and once held nearly $90 million in ETH before transferring it to Hyperliquid. Previously, the address held the largest HYPE long position on the platform. Renowned traders note that Bitcoin has digested interest rate hikes and the CLARITY Act setback, potentially shifting the market trend.
How the market reacted
Whalio's own Binance spot order flow for ETH, measured when this story was written up on 20 September 2026. Not the outlet's figures.
Whalio data shows Ethereum trading at $2,632.69 with a 1-hour buy ratio of 56.8%, indicating short-term bullish momentum. This contrasts with the 4-hour buy ratio of 41.6%, suggesting that buying pressure is fading over a slightly longer timeframe. The 24-hour buy ratio sits at 49.9%, showing a near-even split in trading activity over the full day. Volume delta for the hour is positive at $1,857,589, while the 4-hour delta is negative at -$10,425,930. This indicates that immediate buying has outpaced selling, but the trend has reversed over the past four hours. CVD for the 24-hour close is -$59,210,087, reflecting net selling pressure over the day. Only 6 of the last 24 hours saw net buying, highlighting intermittent rather than sustained demand.
The latest daily buy ratio of 46.8% sits at the 16th percentile of the last 322 days, against a median of 49.5% - weaker buying than most days.
Was that an ordinary day?
The same Binance spot measurements for ETH, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 49.1%, with the latest day showing a slight increase of 0.8 points. Volume was 0.60x the average, indicating lower than usual trading activity. The coin experienced a price change of +4.2% over 8 days, with a total volume delta of -$43,267,961. This represents a period of net outflow compared to the current day's mixed signals. While the 24-hour volume delta is -$1,122,637, the weekly total of -$43,267,961 shows a much larger cumulative sell pressure. This suggests that today's activity is part of a broader trend of reduced volume and net selling over the week.