The whale modified a leveraged SILVER short on Hyperliquid, adjusting exposure and cost basis amid unrealized losses and liquidation risk.
On January 27, a whale address (0x61c) on Hyperliquid adjusted its $35.3 million 20x leveraged SILVER short position by closing 20% at $105 and adding more at $112, raising the average entry price from $93.1 to $97.4. The position currently shows $4.2 million in unrealized losses with a liquidation level at $135. The whale deposited $6.6 million to Hyperliquid to expand the position, increasing its size by more than $15 million. This latest move follows earlier high-profile activity involving large ETH collateral shifts, stablecoin borrowing on Aave, and significant risk management to avoid liquidation.