Cryptocurrency trader that the ultra-leveraged ether (Eth) Trade limits tested hyperliquid on March 12 entered another multimillion-dollar position, this time in chainlink (Link), Onchain data is displayed.
On March 14, the unknown whale, referred to as X as “Eth 50x Big Guy,” took a long position at the link worth more than $ 31 million with 10 times action, according to LookonChain, a Web3 Analytics service.
He put bets on Hyplerliquid and GMX, two famous Perpetuals Exchange, lookonchain Says In a post 14 x post. In addition, the whale has accumulated about $ 12 million in the link link.
By the next time, the whale Data.
Source: Lookonchain
Related: Hyperliquid Ups Margin Requirements after $ 4 million loss of extermination
Huge trading captures
On March 12, the unknown businessman accidentally liquided about $ 200 million long ETH positions, causing hyperliquid’s liquidity pool, HLP, to lose $ 4 million. The entrepreneur’s income led nearly $ 1.8 million.
According to Lookonchain, the businessman gained nearly $ 17 million last month in Hyperliquid.
The incident is highlighting the challenges faced by eternal trading platforms such as Hyperliquid, which gives traders to take a long or short position several times greater than their deposited capital.
Hyperliquid said the businessman’s actions do not qualify as an exploitation and rather an unpredictable consequence of its trading platform mechanics under extreme conditions.
In response to losses, Hyperliquid announced on March 13 Modified Collateral Rules For entrepreneurs with an open position to guard against similar side cases in the future.
Launched in 2024, the flagship of Hyperliquid gained an exchange of 70% of the market sharing, which exceeded rivals such as GMX and DYDX, according to January’s January Manager Vaneck.
Chainlink, Oracle’s most popular decentralized service, saw the price of native token links increased by more than 150% in the weeks after President Donald Trump prevailed in the US election.
It has since surrendered most of the gains, which drops from the high of nearly $ 30 per token in December to less than $ 14 to March 14th, according to Data from coingecko.
The chainlink market capitalization is currently around $ 8.7 billion.
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