A major cryptocurrency trader has significantly reduced its Ethereum exposure on derivatives platform Hyperliquid, closing a long position of 12,003.10 ETH valued at approximately $36.96 million. The wallet address (0x4a2) executed this reduction while preserving a substantial leveraged position in ETH.
Despite the partial exit, the whale maintains an active 25x leveraged long position worth $21.23 million with an initial entry price of $2,990 per ETH. This remaining position currently shows an unrealized profit of $301,000.
The strategic adjustment highlights sophisticated portfolio management amid ongoing market volatility. Large-scale position changes by institutional-scale traders often signal shifting risk assessments and can influence market sentiment across derivatives platforms.