Hyperliquid's largest ETH long position has a maximum unrealized loss of $33.86 million, exceeding more than twice the initial margin.

BlockBeats News, May 28th, according to Hyperinsight monitoring, due to the ETH price breaking below $2000, the largest ETH long position on Hyperliquid, under the name of "BIT Whale," suffered a significant loss across four addresses, with a total unrealized loss of $33.86 million. Calculated based on its initial investment of approximately $16.5 million, the current unrealized loss has exceeded twice the initial investment.

Currently, this whale is strategically positioned on Hyperliquid, holding a long position of 120,000 ETH (approximately $237 million), with an overall weighted leverage of about 18 times. Based on the weighted average entry price of each address's funds, its overall entry price is around $2,270, with the most recent liquidation line at $1,716.

It is reported that this address belongs to the digital financial service group BIT (formerly Matrixport), which has received multiple fund transfers from within its organization. Previously, it had taken long positions on ETH worth billions, realizing profits exceeding $50 million.

Addresses:

Address: 0xa5b0edf6b55128e0ddae8e51ac538c3188401d41

Address: 0x6c8512516ce5669d35113a11ca8b8de322fd84f6

Address: 0xa875890465dA20062bCF3b024Bf7d54E69C725a8

Address: 0xfd423284f6a9c73a2a3d53cab8921d6533533d97