“Today’s Top 1 Loss”: ETH’s Largest Long Position Incurs $88.5 Million Floating Loss—Over 5.3x the Initial Margin
TechFlow News, June 26: According to Hyperinsight monitoring data, ETH declined again this morning, briefly approaching $1,500. On Hyperliquid, the largest ETH long position—held by the “BIT-affiliated whale”—suffered substantial simultaneous losses across four addresses under its control; losses exceeded $10.1 million within the past 24 hours, bringing its total unrealized loss to $88.5 million. With an initial position size of approximately $16.5 million, the whale has now lost over 5.3 times its principal.
Amid ETH’s continued decline this morning, the whale deposited approximately $8 million in margin across several of its addresses over the past 24 hours to avoid liquidation. Following these deposits, its latest liquidation price has moved down to $1,143.
The whale currently holds a total long position of 120,000 ETH (approximately $224 million) on Hyperliquid, with an overall weighted leverage of roughly 18x. Weighted by capital allocation across its addresses, its average entry price is approximately $2,261.
Reportedly, this address belongs to BIT, a digital financial services group (formerly Matrixport), and has repeatedly received inbound transfers from BIT-controlled wallets. Previously, it held multi-hundred-million-dollar ETH long positions, generating profits exceeding $50 million.
