23-Game Winning Streak Ends with a Single Hit: ETH Low-Leverage Short Position Loses $24M, 85% Win Rate Gone in Six Months

BlockBeats News, August 25th. According to TradingBeats (formerly Hyperinsight), the biggest loser in this round of the market is the whale with an address starting with 0x0ddf, named "pension-usdt.eth", whose account funds are now close to zero. On August 20th, in the early morning, the whale closed a short ETH position held for about 60 days, with a position of 50,000 ETH recording a loss of approximately $23.926 million, making it the largest liquidation address on Hyperliquid recently.

Prior to this, this whale had completed 23 consecutive profitable trades: from mid-February to mid-June this year, its BTC and ETH positions accumulated a total profit of approximately $19.127 million. The loss in this single trade is equivalent to 125.1% of the previous 23 consecutive wins, not only wiping them out completely but also additionally losing about $4.8 million.

The whale began building this ETH short position on the evening of June 20th, with an average price of around $1,648.2, and ultimately closed the position at an average price of around $2,126.7. During the holding period, ETH rose by approximately 29.0%, and the nominal value of the position rose to $106 million.

Its initial effective leverage was only about 2.3 times; as the unrealized losses continued to erode the equity, even the low leverage position was eventually liquidated in the counter-trend market, and has now completely exited.

In the most recent 100 completed trades, this address has recorded 85 wins and 15 losses, with a win rate of 85%, of which 93 trades were concentrated in BTC and ETH, with a median holding period of only about 6.8 hours. However, this ETH short position was held for over 60 days, making it the most extreme in terms of both duration and single trade loss for this trader.

Since October of last year, this address has accumulated a net profit of approximately $39.294 million from 99 trades; after accounting for this loss, the cumulative profit has decreased to about $15.367 million, with this single trade giving back 60.9% of the previous cumulative profit.