Hyperliquid whale sees profit fall from $100M to $38.4M as ETH and XRP longs sink
Crypto Briefing
A major Hyperliquid trader's profit plummeted from nearly $100M to $38.4M due to losses on ETH and XRP long positions.Summary
A prominent trader on the Hyperliquid platform experienced a significant reduction in profits, falling from nearly $100 million to $38.4 million over ten days. This decline is attributed to heavy long positions in Ethereum (ETH) and XRP that were severely impacted by a recent market downturn. During this period, ETH dropped from $3,400 to about $2,800, and XRP fell from $2.50 to under $1.96, with both assets declining by over 18%. The trader's losses on these specific long trades amounted to more than $61 million, illustrating the substantial risks associated with holding oversized directional positions during market reversals.
(Source：Crypto Briefing)