Ethereum Updates: Major Investor Places $44 Million Long Position on Fusako Upgrade's Prospects

Ethereum's unpredictable price action took a notable twist as a prominent whale made a comeback, opening a $44 million long position that hints at measured optimism while the broader crypto sector continues to seek stability. The trader, identified on-chain as "1011short," transferred $10 million in

to Hyperliquid to initiate a 5x leveraged bet, supporting 15,000 at an average entry of $2,945.83 per coin . This sizable trade, one of the whale's most significant recent moves, comes as trades around $2,896, resulting in a current unrealized loss exceeding $38,000, though the liquidation threshold is set at $2,326.6 .

This whale's renewed activity coincides with broader market trends.

Ethereum's value on November 24, 2025, after a steep drop the week before. Despite this bounce, the recovery remains fragile, with resistance forming near the $3,000 mark. to institutional maneuvers, such as BitMine's decision to stake its 3.6 million ETH reserves through the Made in America Validator Network (MAVAN) in 2026. As the world's largest Ethereum holder, BitMine has from staking yields, a strategy that could help stabilize its holdings amid ongoing volatility.

The whale's timing also aligns with Ethereum's upcoming Fusako upgrade, set for December 3, 2025.

improve token value accrual and boost both execution and staking performance, which may help restore investor confidence. Although the upgrade has yet to drive sustained price appreciation, its rollout could serve as a catalyst for long-term investors. Meanwhile, in net withdrawals last week, with U.S. spot ETFs accounting for $500.2 million of that total.

The whale's renewed involvement stands in contrast to the recent caution shown by institutions in the Ethereum market.

and HashKey Group's Xiao Feng, have recently put a $1 billion Ethereum Digital Asset Treasury (DAT) project on hold due to market weakness. The initiative, which had already secured $110 million in pledges, was paused to protect investors after Ethereum's price dropped below $3,000. Similarly, Sharplink Gaming, the second-largest ETH holder, has come under the spotlight after moving 5,442 ETH to Galaxy Digital, fueling speculation about possible portfolio adjustments or OTC transactions.

Despite these challenges, the whale's leveraged bet reflects a belief in Ethereum's favorable risk/reward setup.

remains a significant resistance, while a fall below $2,850 could prompt further selling. Blockchain data also reveals renewed accumulation among mid-tier whales, with wallets holding at least 100 BTC increasing for the first time in over two years. Although Bitcoin's performance hasn't directly dictated Ethereum's path, alternative coins such as and .

The whale's strategy highlights the ongoing tug-of-war between institutional confidence and market vulnerability. As Ethereum approaches its Fusako upgrade and navigates sector-wide uncertainty, the moves of major players are likely to influence short-term sentiment. At present,

and the effectiveness of BitMine's staking approach will be crucial in determining whether the market can maintain its tentative recovery.

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