“Hyperunit whale” has exited their entire leveraged ether position, realizing an estimated $250 million loss and leaving just $53 remaining in the trading account. Blockchain intelligence data shows the position was fully closed on the Hyperliquid platform following a sharp downturn in ether’s price.
The collapse marks a dramatic reversal for a trader who had previously gained notoriety for one of the most profitable macro trades of 2025. That earlier success saw the same wallet generate roughly $200 million in profits by shorting bitcoin and ether shortly before a major tariff announcement triggered a market-wide sell-off.
From Market Timing Success to Heavy Drawdown
In recent months, the whale had shifted aggressively to the long side of the market. By mid-January, the ether position alone had grown to more than $700 million in notional value, with additional exposure across bitcoin and Solana pushing total leveraged bets close to $1 billion.
However, sustained weakness in crypto prices throughout January placed the position under mounting pressure. As ether slid sharply this week, unrealized losses rapidly expanded, ultimately forcing a full exit.
A Stark Reminder of Leverage Risk
While the trading account in question now shows a negligible balance, associated wallets still control substantial crypto holdings elsewhere. Even so, the episode highlights the extreme risks of high-leverage strategies, demonstrating how quickly market conditions can erase gains — even for traders once seen as exceptionally well-timed.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.