Ethereum Whale Nets $20 Million Floating Profit from 10x Leveraged Short on Hyperliquid

According to data from OnchainLens, a significant whale on the Hyperliquid platform is currently holding a leveraged short position on Ethereum (ETH) with a floating profit nearing $20 million. The position, valued at approximately $91.8 million, utilizes 10x leverage, reflecting a strategic bet against ETHs price movement. The entry price for this short was $2,793, while the liquidation threshold is set at $2,941, indicating a tightly managed risk profile. This sizable position underscores the growing influence of large-scale traders in the crypto derivatives market and highlights the volatility inherent in ETH trading. Market participants should monitor such leveraged positions closely, as they can significantly impact price dynamics and liquidity on platforms like Hyperliquid.