Analysis: HLP took over the 50x leveraged whale liquidation position on Hyperliquid at $1915, and now has a floating loss of $3 million

Odaily News According to the monitoring of on-chain analyst Yu Jin, a 50x leveraged whale on Hyperliquid closed 15,000 ETH positions and took out 17.09 million USDC margin and transferred it back to the address. At the same time, because he took away the margin, the liquidation price of the 160,000 ETH long position increased and triggered the liquidation; the liquidation position was too large, and in order to avoid causing too much impact on the market, Hyperliquid's mechanism was that HLP took over the position and then slowly closed it. HLP took over at a price of US$1,915. At present, the 160,000 ETH position taken over by HLP is being slowly closed in small amounts, and it has suffered a floating loss of US$3 million since taking over.