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- Zafar Naik
Zafar Naik
- Reviewed by:
Qadir AKQadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Mar 02, 2026 09:55 UTC
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Ethereum News: Crypto Whale Loses $74M Longing ETH, Left With Just $8.5K on Hyperliquid
Arkham Intelligence flagged a crypto whale whose Hyperliquid account has been drained from near nine figures to $8,500 in six months.
The trader behind the losses has a long history of controversial crypto ventures, failed projects, and on-chain investigations.
ETH technicals remain bearish across daily, weekly, and monthly timeframes, with analysts watching one key level this week.
Six months ago, crypto whale Machi Big Brother started leveraging long on Ethereum when ETH traded near $4,700. Today, on-chain intelligence firm Arkham flagged what’s left of that bet: just $8,500 in his Hyperliquid account.
The trader, whose real name is Jeffrey Huang, has been liquidated over 145 times on Hyperliquid since October 2025, repeatedly opening 25x leveraged long positions on Ethereum and re-entering after each wipeout. On-chain data shows he even tapped PleasrDAO treasury funds deposited five years ago to cover margin on recent positions.
Five months ago, Arkham estimated his net worth was close to nine figures.
From Hip-Hop Star to Crypto’s Most Watched
Huang is no stranger to controversy. The Taiwanese-American former musician rose to fame with hip-hop group L.A. Boyz in the 1990s before entering crypto in 2017. He founded Mithril, which collapsed roughly 80% within months.
He was involved with Formosa Financial, where 22,000 ETH later went missing. He forked Compound to create Cream Finance, which suffered exploits totaling over $192 million. On-chain investigator ZachXBT accused him of embezzlement in 2022. Huang responded with a defamation lawsuit.
Despite all of it, he kept trading.
Ethereum Price: What Should You Watch?
ETH trades at $1,955, still well below its daily 50-day and 200-day moving averages. The daily RSI reads 41.4, below neutral, while the MACD sits deep in sell territory at -139.35.
The daily summary reads Sell, with weekly and monthly both flashing Strong Sell.
According to Coinglass, ETH is down 54.80% over the past 180 days and 30.20% over 90 days.
Geopolitical risk and sticky inflation, with the Core PPI rising 0.8% month-over-month, have reduced expectations for Fed rate cuts, keeping risk appetite low across crypto markets.
What Analysts Expect for ETH This Week
Analysts project a trading range of $1,770 to $2,160 for the coming week. The probability of a sustained rally remains below 20%.
Viktoras Karapetjanc of Traders Union noted, “If Ethereum can hold above immediate support and sentiment shifts, a move towards $2,160 is still on the table this week.”
A breakout above $2,021 would be the first signal of relief. Without it, the same conditions that wiped out one of crypto’s biggest whales remain firmly in place.
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FAQs
Ethereum is under pressure from geopolitical risk, sticky inflation data, and reduced rate cut hopes, weakening demand for risk assets.
Technical indicators currently show a “Sell” signal, with ETH trading below key moving averages and momentum remaining negative.
Analysts expect ETH to trade between $1,770 and $2,160 this week, with a sustained rally currently having less than a 20% probability.
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