Ethereum: Huang Licheng (“Brother Ma Ji”) Goes 25x Long on 15,600 ETH via Hyperliquid — $93M Position, ETH Liquidation at $4,696.96

COINOTAG reported that, per on-chain analysis, trader “Brother Ma Ji” Huang Licheng initiated significant leveraged longs on the Hyperliquid venue, taking a 25x exposure on 15,600 ETH and a 40x exposure on 175 BTC, representing an aggregate position size of approximately $93 million. The disclosure underscores concentrated risk allocation and elevated margin utilization observed in the on-chain derivatives market.

According to the same on-chain dataset, the disclosed liquidation prices for the Ethereum exposure were reported at $4,696.96 and $2,075.70, while the Bitcoin long carried a reported liquidation threshold of $113,714.40. These figures reflect platform-reported metrics and should be interpreted as snapshot data rather than forward-looking guidance.