Several large cryptocurrency traders have been actively managing highly leveraged positions in Ethereum (ETH) and Bitcoin (BTC) amid volatile market conditions. A trader known as Smart Trader deposited $4.68 million USDC into Hyperliquid and opened a 20x leveraged ETH short, following a previous ETH short that initially gained over $20 million but ultimately resulted in an $802,000 loss. Another trader, AguilaTrades, closed a 25x ETH long position with a $1.67 million profit and opened a 40x BTC long position valued at over $117 million, later trimming part of this position to avoid liquidation. James Wynn closed his 10x leveraged PEPE long after nine consecutive liquidations, withdrawing $32,931 from Hyperliquid to Binance, having lost $1.24 million of an initial $1.28 million USDC deposit. Another whale closed an ETH long with a $6 million profit, withdrawing $12.68 million from Hyperliquid and purchasing 2,000 ETH worth $7.63 million on Binance. Meanwhile, The Ether Machine became the third-largest Ethereum holder with a $56.9 million ETH purchase. A new wallet has accumulated 79,461 ETH valued at $299 million over three days, despite a current unrealized loss of $22 million, recently receiving 16,495 ETH from Galaxy Digital to lower its average ETH price to $3,763.53. Large transfers have also been observed: 500 BTC ($57.3 million) moved to BitGet, 442 BTC ($50.7 million) to CryptoCom, and millions of XRP and ETH tokens transferred between wallets and exchanges, including Ripple locking nearly 700 million XRP worth over $2.07 billion in escrow. Additionally, a trader increased a 15x leveraged short position to 40,000 ETH, currently valued at $1.4 billion, with a $7.5 million unrealized profit, having initiated the short at $3,843 per ETH and adding more at $3,535.