Hyperliquid’s largest longs show heavy losses as ETH whale is liquidated
On-chain reports said Hyperliquid’s seven biggest long addresses were deeply underwater, while “Machi Big Brother” Jeff Huang faced repeated ETH liquidations on June 25 and kept reopening bullish positions.
Hyperliquid’s concentrated leveraged long exposure remained in focus after multiple reports on major positions and forced closures. Odaily, citing on-chain analyst Ember, said the platform’s seven largest long addresses were carrying a combined unrealized loss of $91.46 million across $415 million in open positions, including 120,000 ETH and 2,000 BTC. Separately, on-chain trackers identified “Machi Big Brother” Jeff Huang as an ETH whale who was liquidated repeatedly on Hyperliquid as Ethereum fell below $1,600, with reports saying he was liquidated four times in one account and seven times over 10 hours in another, while cumulative losses were said to exceed $35 million. Reported remaining exposure varied by snapshot, but both accounts said he kept reopening ETH long positions after liquidation.
- liquidation: Forced closure of a leveraged position after losses breach margin requirements.
- unrealized loss: A paper loss on a position that has not been closed.
- liquidation price: The price level at which a leveraged position may be forcibly closed by the platform.