Trader 0x0c5 converted a $29.6 million leveraged Ethereum long on Hyperliquid into a $2.29 million profit after holding for three weeks through a market downturn. Opened at $2,482.2 with 20x leverage, the position was down approximately $1.6 million four days ago before Ethereum surged 5.5% today. The reversal illustrates both the potential gains and sharp risks of large leveraged trades on decentralized perpetual exchanges.