Hyperliquid’s 50x ETH whale makes a comeback with a new 20x long position worth $47.62m

The notorious “50x whale hyperliquidal” is back in action with a newly formed position of 47,253 ETH for 20x. The merchant made a profit of almost $ 2 million.

After a month of inactivity, the merchant took advantage of the sharp drop in Ethereum (Ethn) Price by opening a long position with a 20x lever effect on the hyperliquid. The position included 47,253 ETH, worth around $ 70.86 million with an entry price of $ 1,459 and a liquidation price of $ 1,391.

More recently, the whale closed its long -term position on April 7 around 11:00 am UTC and made a profit of 1.87 million dollars after deciding $ 6.3 million in Arbitrum (ARB). Chain data showed that the whaleThe long -term accumulated profit has reached a peak of $ 4.52 million, before retracting in a few hours.

According to data From Crypto.News, Ethereum has dropped by almost 17% in the last 24 hours. ETH is currently negotiated at $ 1,487. This is the first time that Ethereum has been below the threshold of $ 1,500 since March 2023. Its market capitalization has dropped by more than 18% after the drop in prices.

The origins of the 50x ETH hyperliquidal whale

The anonymous merchant obtained the nickname of “hyperliquid 50x eth Whale” after having opened a long position of 175,000 ETH with a lever effect 50x on March 12. The position was estimated at around $ 340 million and almost triggered a market accident on the liquidity platform.

After finishing at 15,000 ETH, the whale transferred approximately 17.09 million USDC on the sidelines to their address. After removing the margin, he triggered the platform to automatically liquidate the remaining 160,000 ETH.

Due to the large liquidation size, Hyperliquid Vault supported the position at $ 1,915 and tried to disentangle it. Consequently, Hyperliquid has gained the weight of the liquidation and suffered a loss of more than $ 4 million.

Even after the massive liquidation, the whale still managed to obtain a net profit of approximately $ 1.8 million. To avoid repetition of the incident, hyperliquid announced that it would reduce its BTC (BTC) and a maximum lever effect at ETH at 40x and 25x respectively.