Whale's ETH leveraged position stops loss and reduces holdings, selling 50,000 ETH to lower liquidation price to around $1,600

Odaily News According to monitoring by crypto analyst Yu Jin, a whale who suffered a liquidation of an ETH long position on Hyperliquid three days ago, resulting in a loss of approximately $230 million, has recently begun to stop losses and reduce leverage on its on-chain spot leveraged positions. The address has sold about 50,000 ETH, valued at approximately $112.8 million, to alleviate liquidation pressure.

Monitoring shows that the whale leveraged borrowing to go long on 148,000 ETH (worth about $426 million) at an average price of around $2,883 on January 27. Subsequently, the price of ETH quickly dropped to around $2,200, which not only caused the liquidation of its ETH long position on Hyperliquid but also pushed its on-chain leveraged position close to the liquidation line. Over the past two days, by reducing holdings by 50,000 ETH, its overall liquidation price has been lowered to around $1,600.

As of now, the address still holds approximately 33,000 BTC (about $2.52 billion) and 748,000 ETH (about $1.693 billion) on-chain, with total assets amounting to approximately $4.213 billion.