Hyperliquid Whale’s 120,000 ETH Long Shows $58 Million Unrealized Loss

A 120,000 ETH long position on Hyperliquid is showing a $58 million unrealized loss after Ether fell about $100 from the previous morning, according to Ember monitoring cited by Odaily. The position was opened at an average price of $2,261 and has been described as worth about $271 million. Over the past day, the trader added 11 million USDC in margin, lowering the nearest liquidation price from $1,617 to $1,506, still roughly $250 below the current ETH price. Earlier reports linked the position to four wallets and said Lookonchain suspected ties to Matrixport, while also reporting more than $46 million in unrealized losses and $1.78 million in funding fees at an earlier stage.