The cryptocurrency trader, whose ultra-farm ether (ETH) tested the limits of Hyperliquid on March 12, found another item worth many billion dollars, this time in a chain (link), results from ONCAIN data.
On March 14, the anonymous whale, referred to in X as “ETH 50x Big Guy”, took long positions in a link worth about $ 31 million with a 10 -fold lever, according to Looconchain, analytical service Web3.
He placed factories on Heplerliquid and GMX, two popular exchanges Perpetuals, Lookonchain he said In the post of March 14. In addition, the whale accumulated about $ 12 million in a point link.
In the following hours of whale, he gradually reduced its connections by petite swaps back to Stablecouins, according to Onchain data.
Source: Lookonchain
Related: Hiperliquid UPS requirements for margin after loss of $ 4 million
Huge commercial benefits
On March 12, an unidentified trader deliberately liquidated a position of about $ 200 million, causing a pool of liquidity Hyperliquid, HLP, will lose $ 4 million. The salesman’s profits reached about $ 1.8 million.
According to Looconchain, the trader earned almost $ 17 million in the last month at Hyperliquid.
This incident emphasized the challenges facing eternal trade platforms, such as hyperlic, which enable traders taking long or tiny positions many times greater than their deposited capital.
Hyperliquid said that the trader’s activities did not qualify as an exploit, and instead they were a predictable consequence of the trade platform mechanics in extreme conditions.
In response to the losses, Hyperliquid announced a changed security principles for traders with open positions on March 13 to protect themselves from similar matters in the future.
The Hyperliquid Perpetuals flagship introduced to the market in 2024 was captured by a 70% market share, exceeding rivals such as GMX and Dydx, in accordance with the January report of the Vaneck asset manager.
Link, the most popular decentralized Oracle service, recorded an augment in the price of a native token of links by over 150% in weeks after President Donald Trump won the US elections.
Since then, he gave up many of these profits, falling from almost USD 30 to token in December to less than 14 USD, according to March 14, according to data with Coingecko.
The market capitalization of the chain is currently around $ 8.7 billion.
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