The cryptocurrency market is like a battlefield; one misstep can lead to total loss. On March 10, a whale spent 3.92 million USDC on the Hyperliquid platform to bottom out HYPE, confirming the brutality of the cryptocurrency market—this investor currently holds 240,000 HYPE, showing a paper loss of $1.47 million (-29.4%) and is deeply trapped due to a 3x leverage long position.
Case warning:
This is not the whale's first risky bet. Last June, he wagered 8 million USDC on the ENA token at an average price of $1.29 but cut losses when it plummeted to $0.726, resulting in a single loss of $13.12 million (-44%). Now he repeats the same strategy, and history seems to be repeating itself. Ironically, on the same day, another report showed that the WLFI portfolio, heavily invested in ETH (65%), has lost $110 million, with $80.85 million lost solely in ETH.
Personal opinion:
Leverage is a double-edged sword: 3x leverage means a 3% price fluctuation can wipe out the entire principal. Currently, the HYPE price has dropped 23% from the opening price of $14.46, and if it continues to fall, the risk of liquidation increases sharply.
Platform selection hides mysteries: Hyperliquid attracts users with low fees (weekly fee of $12.61 million surpasses Solana), but its TVL is only $669 million, and liquidity risks cannot be ignored.
Policy direction affects the market: As Texas's Bitcoin Reserve Bill passes, Utah has removed similar provisions, and policy uncertainty may further exacerbate price fluctuations.
Will this whale's limit order of 5,080 HYPE ($14.05-$14.15) be executed? If market sentiment remains depressed, will he be forced to stop-loss like he did last time when he sold ENA? With expectations of a Fed rate cut in June rising, what changes will the crypto market undergo?
Market crashes often breed bigger opportunities. Tap on my avatar and follow me to uncover the movements of the whales first-hand?
Proper position control, waiting for a rebound, avoiding chasing highs or cutting losses, and steadily grasping every wave of profit!