A significant Ethereum (ETH) whale has accrued a floating profit nearing $20 million from a highly leveraged short position on the Hyperliquid derivatives platform.
The whale’s position, valued at approximately $91.8 million, utilizes 10x leverage. It was initiated at an entry price of $2,793 per ETH, with liquidation set to occur if the price reaches $2,941.
This substantial leveraged bet underscores the considerable influence large-scale traders wield within the cryptocurrency derivatives market. It also highlights the inherent volatility associated with Ethereum trading.
Market participants are advised to monitor such large leveraged positions closely, as they possess the potential to significantly impact price movements and liquidity dynamics on platforms like Hyperliquid.