Ethereum Updates Today: Buddy Goes All-In on ETH with $13 Million Leveraged Wager Amid Market Slump

Buddy Huang Licheng's bold approach to

(ETH) trading has taken a sharp turn as the crypto market faces intense volatility. Known for his penchant for high-leverage trades, the seasoned investor experienced a complete liquidation of his 25x long position on November 17, resulting in a loss of nearly $3.6 million due to the market's sharp decline. Undeterred, Buddy quickly re-entered the market with an even larger bet, anticipating a recovery in ETH's value. His new 25x leveraged long position now stands at $9.5 million, with an entry point of $3,052.67 and an unrealized gain of $126,000 based on the most recent figures .

This move further cements Buddy's image as a risk-taker who often increases his exposure after setbacks—a tactic that has sparked both praise and skepticism within the crypto world. Just days after his liquidation, HyperInsight noted that Buddy's position had expanded, with additional margin bringing his total exposure to $13.57 million by November 18. This increase coincided with

(BTC) dropping below $90,000 for the first time in almost seven months, marking a 28.7% decline from its recent peak. to macroeconomic headwinds, such as weak buying momentum and portfolio rebalancing between stocks and gold.

Buddy's trading is part of a larger pattern of major players making moves in the ETH market. Separate on-chain data showed that a whale holding $1.24 billion in ETH accumulated 13,117 ETH within 12 hours, raising its total to 19,199.91 ETH.

of $3,057.78 has led to an unrealized deficit of $1.59 million, yet the investor continues to increase their holdings despite the downturn.

At the same time, Hyperliquid's "ETH Max Long" position is currently sitting on an unrealized loss of $15 million, but the position remains open with a limit order to sell ETH at $3,860 for potential profits

.

The heightened market swings have also prompted institutional investors to act cautiously. Both SoftBank and Bridgewater Associates have trimmed their holdings in NVIDIA, with SoftBank completely divesting its $5.8 billion stake. Meanwhile, in the crypto sector, Coinbase has sparked rumors of a significant new product launch—possibly related to its Base blockchain—after updating its X account bio to "December 17th."

, potentially tied to its Base blockchain.

Buddy's latest wager on ETH is undeniably bold but fraught with risk. With a liquidation threshold at $2,816, there is little margin for error in a market known for rapid sentiment shifts. Should ETH fail to remain above $3,000, Buddy could face further margin calls and be forced to change course. For now, his actions underscore the ongoing appeal of leveraged trading in an environment where strong conviction often outweighs caution.