Key Notes
- Highly leveraged traders deployed $92.87 million across four positions, with some using up to 25x leverage on their bets.
- Vitalik Buterin transferred $2.9 million worth of ETH to privacy protocol Railgun, protecting transactions using zero-knowledge proofs.
- Institutional adoption of privacy coins grows as Nasdaq-listed Reliance Global follows Zcash treasury strategy.
Three cryptocurrency whales turned bullish earlier today on November 26, opening nearly $100 million in long positions on Hyperliquide.
THRESHING
$35.45
24h volatility:
9.3%
Market capitalization:
$9.61 billion
Flight. 24h:
$441.38 million
according to on-chain analysis.
These three whales were spotted by Lookonchain in the two hours leading up to the release and signal a shift in sentiment for large-cap traders, adding risk to expectations of a crypto rally. According to onchain analysis, Bitcoin
BTC
$90,279
24h volatility:
3.0%
Market capitalization:
$1.80T
Flight. 24h:
$67.33 billion
and Ethereum
ETH
$3,037
24h volatility:
2.9%
Market capitalization:
$366.61 billion
Flight. 24h:
$22.75 billion
were the preferred assets for these large positions which follow different strategies.
First, the address 0x0ddf9bae2af4b874b96d287a5ad42eb47138a902 opened low leverage long positions on Bitcoin and Ethereum. The trader opened a 3x long position on 311.9 BTC, worth $27.14 million, and a 2x long position on 5,176 ETH, worth $15.15 million.
Interestingly, the other two whales were much more aggressive. The address 0x2c26b98bba32196e05123db5e1469ee88cb67e17 opened a 20x long position on 346 BTC, worth $30.09 million, while 0x535e34b5ada64997afc88444271ae9b3f82b3867 opened a 25x long position on 7,000 ETH, worth $20.49 million.
Together, the four positions total $92.87 million, according to the face value reported by Lookonchain.
Over the last 2 hours, 3 whales have turned bullish and opened large long positions on Hyperliquide.
0x0ddf opened a 3x long on 311.9 $BTC($27.14 million) and a 2x long on 5,176 $ETH($15.15 million).
0x2c26 opened a 20x long on 346 $BTC($30.09 million).
0x535e opened a long position 25x on 7000 $ETH($20.49 million).… pic.twitter.com/Pa5xszOlen
– Lookonchain (@lookonchain) November 26, 2025
Vitalik transfers $2.9 million in ETH to privacy protocol Railgun
Other notable whales are also moving as overall market conditions appear to change midweek. One of them is Vitalik Buterin, creator of Ethereum, who just moved $2.9 million worth of ETH to privacy-enhancing protocol Railgun, according to data from Arkham Intelligence.
VITALIK JUST SENT $2.9M $ETH AT RAIGUN
Vitalik holds over $700 MILLION worth of ETH and just sent $2.9 million to Railgun.
What is he cooking? pic.twitter.com/2HvDFRDqi2
-Arkham (@arkham) November 26, 2025
Addresses identified as belonging to the well-known figure hold approximately $700 million worth of Ether, 0.42% of which has now been lost. Railgun uses zero-knowledge proofs (zk-SNARKs) to protect token balances and transactions in a shared pool, allowing users to privately deposit, transfer and withdraw assets without revealing amounts, senders or recipients on the public blockchain.
This is similar technology to the now leading privacy coin, Zcash.
ZEC
$521.2
24h volatility:
4.6%
Market capitalization:
$8.55 billion
Flight. 24h:
$927.67 million
which has also seen significant whale activity, this time from institutional actors. Two weeks after Nasdaq-listed Leap Therapeutics rebranded as Cypherpunk to launch a ZEC digital asset treasury (DAT), another Nasdaq-listed company, Reliance Global, also pivoted to follow a Zcash DAT strategy. Both signal a bullish stance for the privacy coin.
In related news, SovereignAI, a Nasdaq-listed subsidiary of OceanPal, purchased 53.9 million NEAR
CLOSE
$1.95
24h volatility:
2.2%
Market capitalization:
$2.50 billion
Flight. 24h:
$188.80 million
for its $133 million DAT strategy. Looking at recent launches, Monad came back from previously bearish action to rack up over 40% gains with MON price post-launch.
following
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article is intended to provide accurate and current information, but should not be considered financial or investment advice. Because market conditions can change quickly, we encourage you to verify the information for yourself and consult a professional before making any decisions based on this content.
Vini Barbosa has been covering the crypto industry professionally since 2020, summarizing over 10,000 hours of researching, writing and editing related content for media outlets and major industry players. Vini is an active commentator and avid user of technology, sincerely believing in its revolutionary potential. Topics of interest include blockchain, open source software, decentralized finance, and real-world utilities.
Vini Barbosa on X
