Whale Liquidation on HyperLiquid: $10.39 Million Loss for 50x Leveraged Long BTC

In a recent report by COINOTAG News dated February 27th, it has been revealed that a prominent crypto whale experienced significant fallout after being liquidated on the HyperLiquid platform. Approximately 11 hours prior to the report, the address, which had engaged in a 50x leveraged long position on Bitcoin, faced a liquidation event that resulted in a staggering loss of $10.39 million. This position had been initiated about two and a half months earlier.

Despite the liquidation setback, the whale wallet continues to maintain substantial holdings, including 115,427 HYPE, which currently reflects an unrealized loss of around $265,000. Additionally, the account holds 144.54 HFUN, incurring another unrealized loss of approximately $33,000. This situation underscores the volatility inherent in the cryptocurrency markets and the risks associated with high leverage trading.