Hyperliquid giant whale liquidation revelation: from 2.3 million profit to 2 million floating loss
According to Lookonchain monitoring, a whale address starting with 0xb8b9 once set a record of 29 consecutive profitable long trades at Hyperliquid exchange, with total profits exceeding $2.3 million.
The long positions in BTC, ETH, SOL, and LINK that it laid out were once seen as market barometers, but due to recent market volatility, they have fallen into floating losses, with current unrealized losses exceeding $2 million.
Analysis of trading characteristics:
Using the 'futures long + spot hedge' strategy, single trade profit is controlled at 8%-15%
Holding period shortened to within 24 hours, suspected shift to high-frequency trading
Floating losses without stopping losses, positions still held for over 72 hours
The contradiction between OP on-chain activity and price stagnation
▶ On-chain data is impressive but price is under pressure
Active addresses increased by 28% week-on-week, surpassing Arbitrum and other layer 2 networks
The number of trades increased by 40% month-on-month, but the price still hovers around $0.566
Historical support level at $0.55 has undergone 5 tests, with strength gradually weakening
▶ Key points in the technical long-short game
▶ Breakthrough catalyst hypothesis
Changes in financing flow of layer 2 network ecological projects
Mainstream exchange OP perpetual contract funding rate turns
Ethereum Cancun upgrade's linkage effect on layer 2 networks
Market reminder: Whale floating losses expose the risks of leveraged trading, while OP's low volatility range may break in 72 hours. Investors should pay attention to the breakthrough situation of the liquidation zone at $0.558-$0.575, and those without positions may wait for clear directional signals before making decisions.