The prominent on-chain trader known as "Evaded" has significantly increased their market exposure by opening a substantial 8,000 ETH long position. On-chain data tracking services, including Onchain Lens, reported the transaction on May 20, 2026, noting that the trader utilized high leverage on a decentralized contract platform. This move comes as the broader cryptocurrency market monitors high-net-worth activity for directional cues regarding the price of Ethereum.
Aggressive Ethereum Positioning with 25x Leverage
The address associated with the X account @ICanPlug executed the trade with 25x leverage, bringing the total notional value of the position to approximately $200 million. Such high leverage indicates a strong bullish conviction in the short-term price action of the Ethereum blockchain native token. Leverage of this magnitude significantly increases both potential returns and the risk of liquidation if the market moves against the position.
- Asset: Ethereum (ETH)
- Position Size: 8,000 units
- Leverage Multiplier: 25x
- Total Notional Value: ~$200,000,000
Existing Portfolio and Unrealized Profits
Beyond the recent Ethereum trade, the "Evaded" address maintains several other active positions that demonstrate a diversified appetite for risk across different crypto assets. The trader continues to hold long positions in Zcash (ZEC) and Hyperliquid (HYPE), both of which were established with 10x leverage.
"The address currently holds previously established ZEC and HYPE long positions with a leverage of 10x, currently totaling an unrealized profit of over $1.3 million."
The success of these prior trades contributes to the trader's total unrealized profit, which currently exceeds $1.3 million. This suggests a period of sustained performance for the address during the recent volatility in the Altcoin sectors.
The aggressive entry into ETH by a high-volume "whale" serves as a notable indicator of institutional-grade sentiment within the DeFi ecosystem. While the $200 million position reflects significant confidence, the volatility inherent in the cryptocurrency markets remains a critical factor for observers monitoring the liquidation price of such highly leveraged contracts.
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For educational purposes only. Nothing here constitutes financial or investment advice. Crypto markets are highly volatile — always DYOR before making any decisions.
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