A $240 million ETH Long Position on Hyperliquid Enters Unrealized Loss, Whale Withdraws $13 million in Profit

BlockBeats News, May 14th, according to Hyperinsight monitoring, on-chain data shows that the largest ETH long position holder "BIT Whale" has seen their $247 million holdings underwater, with the floating loss expanding to $2.75 million. This whale has strategically spread their position across four addresses on Hyperliquid, longing a total of 110,000 ETH with a weighted leverage of approximately 18x, and has recently increased their position by about 11,000 ETH.

Calculating the weighted average entry price based on the fund distribution across the four addresses, the whale's average entry price is around $2,271. As the ETH price has retreated, this whale's P&L has decreased by around $13.08 million from its peak last week, with a funding rate settlement loss of about $760,000.

It is reported that these addresses are owned by the digital financial service group BIT (formerly Matrixport) and have previously received significant fund transfers from within their ecosystem. This entity had a long position on ETH worth billions, realizing over $50 million in profits.

Addresses: 0xa5b0edf6b55128e0ddae8e51ac538c3188401d41

Address: 0x6c8512516ce5669d35113a11ca8b8de322fd84f6

Address: 0xa875890465dA20062bCF3b024Bf7d54E69C725a8

Address: 0xfd423284f6a9c73a2a3d53cab8921d6533533d97

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