In the midst of the latest market upheaval, as the price of ETH plummeted below the ominous threshold of $1,500, a solitary trader on Hyperliquid, with the audacity of a man who has never lost a bet, decided to defy the collective wisdom of the market. This individual, whose name remains shrouded in mystery, opened a staggering $70 million long position, as if to say, “Let the world tremble, for I shall not.”
According to the ever-watchful HypurrScan, this trader, who might as well be a modern-day Don Quixote tilting at windmills, deposited a princely sum of 4.52 million USDC into Hyperliquid. With the bravado of a gambler who has just bet his last coin, he opened a long position on ETH with a 20X leverage. This bold move resulted in a trade size of 47,253 ETH, or approximately $70 million, with an opening price of $1,459 – a price that, if ETH were to rebound, could be remembered as the lowest point before the rise.
A whale just deposited 4.52M $USDC into #Hyperliquid and went long on $ETH at $1,459 with 20x leverage.
The position reached 47,253 $ETH($69.5M) and the liquidation price is $1,391.7.
— Lookonchain (@lookonchain) April 7, 2025
However, as with all tales of hubris, there is a shadow lurking in the background. The trader’s liquidation price stands at $1,391.85, a mere 6.6% decline from the current price. Should ETH’s price continue its downward spiral to this level, the trader’s position will be liquidated, and his fortune will vanish like a mirage in the desert. Such is the nature of the market – a cruel mistress who rewards the bold but punishes the reckless.
At the time of this writing, ETH is trading near $1,501, and the trader, for now, is basking in the glow of a $2 million profit. But as the saying goes, “Pride cometh before the fall,” and the market, ever fickle, may yet have the last laugh.
As the U.S. stock markets prepare to open on Monday, the crypto market is experiencing heightened volatility. This trader’s audacious bet on ETH could either be remembered as a stroke of genius or a cautionary tale for the ages. Only time will tell if this gamble will yield a mammoth profit or a spectacular loss. In the meantime, we can only watch, marvel, and perhaps, chuckle at the sheer audacity of it all. 😏
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2025-04-07 13:41