Matrixport-linked address adds $12.06M in ETH longs near $2,300 after pullback

An address associated with Matrixport, known as "ETH Swing Master" (0xa5b0…), added 6,000 ETH worth approximately $12.06 million to its long position at prices between $2,300 and $2,302 after ETH retreated to around $2,300, Hyperinsight data cited by BlockBeats show on March 17. The move raised the notional value of its ETH long exposure to $82.95 million and lifted the average entry price from $1,991 to $2,043, with ETH trading at $2,304 leaving the position with about $9.4 million in unrealized profit, a reported 169% return, and a liquidation level near $1,138. The address has repeatedly received funds from Matrixport and was previously the largest onchain ETH long position, while another suspected related address (0x6C8…) holds nearly $100 million in ETH longs and typically uses a high-selling, low-buying swing trading approach with trade sizes often exceeding $100 million.