HyperLiquid Whale Making Huge Bet Against ETH Amid Massive Surge

WikiBit 2025-05-11 16:40

A whale on HyperLiquid, a popular decentralized perpetual exchange, has now deposited a total of $29 million to the platform in order to short Ethereum

According to the live position dashboard provided by the platform, the trader has an unrealized loss of $1.5 million at press time. The Ethereum (ETH) short alone accounts for the vast majority of the loss ($1.2 million).

The position will get liquidated if Ethereum surges to $4,489. However, it has a cross-margin pool, meaning that the entire account will be affected if one asset sees a sudden price surge.

It is worth noting that the whale is earning funding through all of their shorts since most traders are currently long.

The audacious bet comes amid a massive Ethereum (ETH) price surge. The flagship altcoin is up by a whopping 35% over the past week alone, substantially outperforming Bitcoin (BTC) and major altcoins.

The sudden price surge has chipped away at the Bitcoin dominance, which is now on the cusp of dropping below 60% after surging to multi-year peaks earlier this month.

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