A certain whale Hyperliquid closes ETH long positions, clearing funds after accumulating a loss of $4.59 million.

【Chain News】A major holder’s actions on Hyperliquid have attracted quite a bit of attention. First, they lost $3.34 million, then shortly after, they opened a long position on ETH with 8x leverage. As a result, this position couldn’t hold, and when they liquidated, they lost another $1.23 million. In total, this individual lost a total of $4.59 million in this round. After completing the operation, they withdrew all remaining funds from Hyperliquid.

From on-chain data, this series of actions—from losing trades to re-entering and finally clearing out—demonstrates how risky leveraged trading can be. Even big players can see their capital quickly eroded during periods of intense market volatility when using high leverage. Many traders are paying close attention to such on-chain behaviors, as these large positions often signal shifts in market sentiment.