Odaily Planet Daily reports that according to crypto analyst Yu Jin’s monitoring, a whale who was liquidated three days ago on Hyperliquid with a long ETH position resulting in a loss of approximately $230 million has recently begun to cut losses and reduce leverage on their on-chain spot positions. The address has sold about 50,000 ETH, worth approximately $112.8 million, to alleviate liquidation pressure.
Monitoring shows that this whale on January 27 borrowed leverage to go long 148,000 ETH at an average price of about $2,883 (worth approximately $426 million). Subsequently, ETH’s price rapidly dropped to around $2,200, causing their ETH long position on Hyperliquid to be liquidated and bringing their on-chain leveraged positions close to liquidation levels. Over the past two days, by reducing 50,000 ETH, their overall liquidation price has been lowered to about $1,600.
As of now, this address still holds approximately 33,000 BTC (about $2.52 billion) and 748,000 ETH (about $1.693 billion), with total assets of approximately $4.213 billion.
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