「ETH Whale Long」 Adds $5.7M to Collateral to Save Himself, Maximum Drawdown Reaches $51.5M

BlockBeats News, June 3rd, according to Hyperinsight monitoring, this morning, ETH fell back to nearly $1800. On Hyperliquid, the largest ETH long position holder, known as the "BIT Whale," saw significant losses across four addresses in the whale's portfolio. The account's floating loss reached a peak of $51.5 million, which has now slightly narrowed to $47.5 million. Calculated based on the initial $16.5 million capital, the loss is approaching three times the initial investment.

Previous monitoring showed that one of the addresses under the whale's name had a liquidation price as high as $1716. Due to ETH's continuous decline this morning, to avoid liquidation, this address urgently added margin to three of its addresses in the past 6 hours, totaling approximately $5.74 million. After this additional funding, the most recent liquidation line has been adjusted down to $1573.

The whale currently holds a total long position of 120,000 ETH (approximately $224 million) on Hyperliquid, with an overall weighted leverage of about 18 times. Based on the proportionate weighting of funds in each address, the comprehensive average entry price is around $2270.

It is reported that this address is owned by the digital financial service group BIT (formerly Matrixport) and has repeatedly received fund transfers from within the group. Previously, it had taken a long position on ETH worth hundreds of millions and made over $50 million in profits.

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