A major investor has doubled its gambling stakes against Ethereum, Bitcoin, and Solana at the decentralized HyperLiquid exchange, taking their notional stake to more than $69 million. The whale has contributed much of $29 million to keep their huge short position current even as the price of crypto increases.
According to Whale Alert, the trader recently injected an additional $12 million into the platform. With this deposit, the total notional value of the leveraged shorts amounts to approximately $69 million, indicated by Ethereum’s pivotal role in the trade.
In the last week, Ethereum has risen by over 35%, surpassing Bitcoin and many of its top altcoins. The whale’s position is experiencing escalating unrealized losses, and the ETH short alone only accounts for about $1.2mm of a $1.5mm portfolio drawdown at the reporting date.
The trader uses a 3X leverage strategy and a cross-margin regime, which ties all assets to the same risk profile. A further increase in Ethereum’s rate over $4,489 may trigger immediate liquidation of the position, which may cause high losses to the account.
Short Under Strain as Ethereum Rally Intensifies
This high-risk move comes amid a broader surge in the altcoin market, with Ethereum leading a strong upward push that has begun to erode Bitcoin’s market dominance. Data shows BTC dominance is approaching a critical threshold near 60%, following recent highs earlier this month.
At the same time as Ethereum’s popularity, Solana and other altcoins have significantly increased weekly, adding to the difficulty for short sellers. While the situation changes, the whale has been able to keep earning funding fees from the short positions since the market move favors longs.
However, the magnitude and contours of the trade, combined with cross-margin exposure, have raised serious issues among analysts. respond
This stake focuses on the increasing complexity of decentralized leverage trading in volatile markets where traders risk large amounts. Given the upsurge in Ethereum’s price, the whale risks losing $69 million if the price goes down the other way.
