# Ether Whale Moves $20 Million in USDC to Hyperliquid for Oil Longs

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/35406
Published: 2026-10-20T07:18:56.000Z
Updated: 2026-10-20T07:18:56.000Z
Section: Investing

> The Ether sale brought in 29.52 million USDC and an estimated $8.99 million profit. The new positions cover WTI and Brent crude.

A large Ether (ETH) holder moved $20 million in USDC to Hyperliquid and opened roughly $22.4 million in crude oil long positions after selling 12,468 ETH for a profit.

The sale brought in 29.52 million USDC at an average of $2,368 per ETH. The holder realized an estimated $8.99 million gain on the tokens sold. The ETH had been bought at an average of $1,647 in early June using borrowed funds.

On Hyperliquid, the holder opened positions in CL, which references West Texas Intermediate crude, and BRENTOIL, which references Brent crude. The holder was still adding to the positions when their combined value reached about $22.4 million. That figure measures the size of the oil positions; 20 million USDC was the amount transferred to the platform.

The earlier purchase involved 18,212 ETH and roughly $30 million in USDS borrowed through Spark. The move directs proceeds from an Ether sale into oil-linked contracts on an on-chain trading platform. A long position gains value if the price it tracks rises and loses value if that price falls.