Whale Faces $21.2 Million Unrealized Loss on Leveraged ETH Long at Hyperliquid
Onchain data reveals the whale now holds a massive 20x leveraged BTC position worth $49.1M, facing multimillion-dollar losses after weeks of drawdown.
BTC
ETH
HYPE
Summary
A cryptocurrency whale previously identified for large leveraged ETH trades on Hyperliquid is now holding a 20x leveraged Bitcoin position worth $49.1 million in 537.83 BTC. Onchain Lens reports the position has been in a loss for 24 consecutive days, currently showing a $4.49 million deficit, down from a $9.5 million peak loss three days earlier. This follows the whale’s history of high-risk leveraged trading, including an ETH long position with a $21.2 million unrealized loss.
Terms & Concepts
- Leverage: The use of borrowed funds to increase the size of a trading position, amplifying both potential gains and losses.
- Long Position: A trading strategy where an investor buys an asset expecting its price to rise, profiting from upward price movement.