News of the closure of the Strait of Hormuz is spreading, as a certain whale quickly built a position with a scale of 7.7 million long oil and short ETH combination.

BlockBeats news, on March 27, according to monitoring by Hyperinsight, in the past hour, after Iran announced that “the Strait of Hormuz has been closed,” an on-chain whale starting with 0xfee opened a long position in BRENTOIL (Brent crude oil) with 8 times leverage, with an average entry price of $103.3, a position size of $6.7 million, and a liquidation price of $92.7.

At the same time, it also briefly opened a short position in ETH with 20 times leverage, with a position size of $1.02 million, bringing the total position size to $7.7 million. This may be intended to bet on the escalating situation between the U.S. and Iran, where crypto assets are under pressure during rising oil prices.