ETH whale positions face a " Waterloo": million-dollar profits evaporate within hours

On-chain Data Monitoring Platform Lookonchain’s latest data shows that a large cryptocurrency holder’s long position strategy is facing a severe test. This trader’s positions in ETH and HYPE have rapidly fallen from an all-time high of nearly $100 million to just $11.4 million—an astonishing loss.

Position Size and Risk Points

According to on-chain tracking data, this whale address currently holds 59,733 ETH (with the latest price at $3.10K, a market value of approximately $185 million) as a long position, with liquidation prices set at $2,807 and $2,729 at two key levels.

At the same time, the address also holds 565,557 HYPE (about $12.5 million), with a long position liquidation price set around $22.20. This position configuration indicates that the trader has a long-term bullish outlook on both coins, but market volatility has significantly eroded the paper gains.

Behind the Profit Shrinkage

From nearly $100 million in unrealized gains to $11.4 million, this not only reflects recent price pressures on ETH but also shows that HYPE’s performance has failed to support the original expectations. At the current HYPE price of $22.95, although the coin has not fallen below the liquidation line, it is already quite close to the safety margin.

This case serves as a reminder to market participants that even seasoned traders holding large positions face significant risks in high leverage environments. Any major negative news or sudden market sentiment shifts could trigger chain reactions of liquidations.