User Deposits 3.36 Million USDC to Hyperliquid, Opens 25x Leveraged ETH Short Position Worth $92 Million

According to recent data from LookIntoChain, a significant transaction was recorded on May 9th involving a deposit of 3.36 million USDC to Hyperliquid. This move enabled the user to establish a 25x leveraged short position on Ethereum (ETH). Currently, the position comprises 41,947 ETH, equivalent to approximately $92 million. Presently, the unrealized profit stands at $658,000, highlighting the potential merits of leveraging in volatile markets. Notably, the liquidation threshold for this position is set at $2,247.1, while the current market price of Ethereum is around $2,198. This strategic approach underscores the critical importance of risk management in cryptocurrency trading.