Oh My! Whale Drama and Droll Fortunes in Crypto’s Ball Game! 😲

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It is with no small measure of amusement and a dash of incredulity that one observes the infamous Hyperliquid 50x whale reentering the stage. With a new long position comprising 47,253 ETH artfully leveraged at 20x, a handsome profit of nearly $2 million has been secured—truly a scene worthy of both admiration and a sly smirk. 😉

After a protracted period of repose, our daring trader took advantage of a sudden decline in the value of Ethereum, much as one might seize a fleeting opportunity at a dance. With remarkable composure (and perhaps a hint of audacity), a 20x leveraged position was assumed on Hyperliquid, encompassing 47,253 ETH, summing to an impressive $70.86 million. The venture was initiated at an entry of $1,459, with a rather perilous liquidation threshold of $1,391.

In a twist as delightful as it is ironic, on the morn of April 7 at about 11:00 AM UTC, our esteemed whale concluded his affair with ETH. A tidy profit of $1.87 million was thus achieved, after a withdrawal of $6.3 million to Arbitrum—a spectacle which saw the accumulated profit once reaching a lofty $4.52 million before retracting most dramatically. One cannot help but offer an amused, if wry, comment on such financial theatrics! 😏

Reports from the ever-watchful chroniclers at crypto.news declare that Ethereum has fallen by nearly 17% in the past day. At present, ETH trades at a modest $1,487, marking its inaugural dip below the illustrious $1,500 since those fabled days of March 2023. Consequently, its market cap has suffered a decline exceeding 18%—an occurrence as unexpected as a misplaced fan at a ball.

The origins of the Hyperliquid 50x ETH whale

Let us now recount, with a nod to both wit and irony, the early exploits of our mysterious protagonist. On March 12, an anonymous trader earned the rather imposing moniker of “Hyperliquid 50x ETH whale” by inaugurating a long position of 175,000 ETH, boldly leveraged at 50x. Valued at approximately $340 million, this venture nearly instigated a market collapse as dramatic as any misadventure at a Regency assembly.

Subsequent to closing a position at 15,000 ETH, the illustrious trader transferred about 17.09 million USDC in margin to a personal account. This act, akin to a misstep on the ballroom floor, triggered the automatic liquidation of the remaining 160,000 ETH—a spectacle both chaotic and comically distressing. 😅

Given the sheer magnitude of the liquidation, the Hyperliquid vault, much like a concerned chaperone, intervened at a price of $1,915 in an effort to restore order. Regrettably, this intervention incurred a loss exceeding $4 million—a veritable financial faux pas that even the most seasoned bystanders might regard with a raised eyebrow.

Yet, in a twist that might provoke both admiration and wry laughter, the whale nonetheless secured a net profit of around $1.8 million. To preclude further episodes of such dramatic excess, Hyperliquid has resolved to diminish its maximum leverage for BTC and ETH to 40x and 25x respectively. Oh, the caprices of fortune and fancy! 😂

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2025-04-07 15:40