Key Takeaways
- The hyperliquid whale that made almost $100 million in profits is now at $38.4 million after the reversal of ETH and XRP.
- Both assets have fallen more than 18% in ten days, wiping out $61 million in profits and reversing the trader’s previous gains.
A prominent Hyperliquid trader has seen profits drop to $38.4 million today, from nearly $100 million ten days ago, as long positions in Ethereum and XRP came under pressure during the recent market downturn. according to to a message on X from on-chain tracker Lookonchain.
The decline coincides with a decline in key digital assets. Ethereum has fallen from $3,400 to around $2,800 over the same period. The trader opened a long position at $3,200, significantly underwatering the trade.
XRP has followed a similar trajectory, dropping from $2.5 to just under $1.96 at the time of writing. The trader went long XRP at $2.3, triggering further losses as both assets registered a decline of over 18% in ten days.
The rapid decline has wiped out more than $61 million in profits and underlines the risks of taking too large directional positions on Hyperliquid. The trader continues to rise overall, but is now far from previous highs as the market continues to pare recent gains.
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