Someone’s position is worth $330 million, a factor that could have a significant impact on the price trajectory of Bitcoin.
Details of the transaction
Recently, a whale from a hyperliquid diversified exchange (DEX) has executed a 40-fold short (sell) position on Bitcoin, with a total value of more than $366 million, with an estimated liquidation price of $85,587. The trader also incurs a substantial amount of capital expenses of up to $220,000.
Due to the decline BTC price.
Source: hyburrscan
If the trader locks in the current profit, then the loss will be significant for hyperliquidity. Conversely, if Bitcoin’s sudden reversal leads to liquidation, the DEX must also buy BTC at a much higher price than the market, which is equivalent to loss.
About super-flow
Hyperliquid provides a fast and affordable trading environment for permanent futures contracts built on its own layer 1 blockchain HypereVM, which prioritizes performance and scalability. The decentralized exchange also gives traders advanced features including size orders and copy trading. Despite its recent launch, Hyproliquid quickly established itself as a leading decentralized derivatives protocol, second only to Uniswap, Raydium and Meteora every day’s trading volume.
A few days ago, Hyproliquid witnessed another whale executing a leveraged trade involving Ethereum eth.
The whale deposited $15.23 million into the superfluid to open up a huge ETH long position of 160,234 ETH, worth about $306.85 million. By using leverage from 13.5 to 19.2 times, traders controlled hundreds of millions of dollars of assets with real capital of only $23 million.
Initially, the position showed unrealized profits of $8 million. However, after the whale withdrew $17.09 million, margin levels dropped significantly, triggering a super-flowing automatic clearing system. Despite being liquidated, the trader still walked away with a profit of $1.86 million, while the HLP fund absorbed $4 million in losses.
Learn more: Superfluid causes $4 million in losses from a single liquidation
