Ethereum news: One trader just lost $220 million as ETH plunged 10%
CoinDesk
A single trader lost over $220 million on an Ether position following a massive liquidation on Hyperliquid amid a 17% ETH price drop.Summary
A massive liquidation event on the decentralized derivatives exchange Hyperliquid resulted in one trader losing over $220 million on an Ether position, contributing to total crypto liquidations surpassing $2.5 billion in 24 hours. This occurred as Ether (ETH) plunged as much as 17% alongside other major tokens during a period of thin liquidity. Long positions accounted for the vast majority of the $2.58 billion in total liquidations, with Hyperliquid alone seeing $1.09 billion in forced closures, representing over 40% of the total market damage. Ether positions made up the largest share of asset liquidations at over $1.15 billion.
(Source：CoinDesk)