ETH Long Position on Hyperliquid Sees 530% Loss

A massive long position in Ether (ETH) on the Hyperliquid platform has seen significant losses as the cryptocurrency fell below $1,500. The 'BIT Whale' address holds a long position of 120,000 ETH, worth around $183 million, with an overall weighted leverage of about 18 times.

The whale's largest long position is facing a mark-to-market loss of $88.5 million, exceeding the initial margin by 530%. In just one day, this address has lost over $10.1 million, bringing the total floating loss to $88.5 million.

To avoid liquidation, the address topped up the margin with approximately $8 million in the past 24 hours, lowering the recent liquidation line to $1,143. The comprehensive average entry price for this position is around $2,261.