Ethereum Surges Past $4,700 as 20x Short Whale Injects $5.22M USDC into Hyperliquid — $26M Total Loss

COINOTAG reported on August 23 that, according to Onchain Lens, a 20x short whale deposited 5.22 million USDC into Hyperliquid as Ethereum rose above $4,700. Public on-chain records show the position with an unrealized loss of about $14 million and a total loss near $26 million. The deposit was reported to be aimed at avoiding liquidation. These figures are based on monitored blockchain data and are presented as reported metrics, not investment advice. Traders monitoring leverage and margin flows should consider this development in the context of broader Ethereum liquidity dynamics.