A certain Oil Futures Whale burned through 60% of its capital in half a month, averaging a weekly loss of $2.3 million

BlockBeats News, May 11th, according to Hyperinsight monitoring, the Top 2 address (0xebe) with the highest losses on the Hyperliquid platform in the past 7 days has repeatedly "countered" in the crude oil market. Since entering on April 20th, in the past two weeks, it has opened a total of 4 crude oil short positions and 2 long positions, all of which have not been profitable. The total loss has exceeded $9.5 million, burning more than $2.3 million in margin on average each week, accounting for nearly 60% of its net deposited funds.

On April 25th, the address first took a large position in crude oil and has since switched direction several times to "chase rallies and kill falls." From WTI to Brent, shorting at the highs and longing at the lows, in two weeks, it has lost nearly $14.67 million of the $24.17 million in net deposited funds.

As of the time of writing, the address still holds a 20x leveraged Brent crude oil short position worth $25 million, currently unrealized losses of $370,000, and has not yet exited.