"Immutable Whale" Liquidates ETH and HYPE Long Positions Within Three Hours, Reducing Position Size by $18.8 Million

BlockBeats News, October 20th, according to HyperInsight monitoring, in the past three hours, a whale address starting with "0x88b" conducted a large number of ETH and HYPE long liquidations during today's market pullback. They closed a total of 3858 ETH long positions and 89,000 HYPE long positions, reducing the nominal value of their holdings by approximately $18.8 million. Their weekly loss narrowed from $5.8 million to $1.9 million. The current total value of the address's holdings is approximately $55.6 million.

It is reported that this address previously went long on BTC at an average price of about $11,800 with 40x leverage, and the position is currently down over 252%, equivalent to around $2.48 million. Their long positions in SOL, HYPE, ETH, and others were also caught at high prices and are currently experiencing an unrealized loss of $3.16 million.