Ethereum whale reopens long after $4.48M loss from liquidation
An Ethereum whale had 28,716 ETH, valued at $69.69 million, liquidated during the October 9 market slump, realizing an estimated $4.48 million loss. The trader had used three Hyperliquid addresses to hold roughly $352 million in leveraged bullish bets on Bitcoin and Ether. Thirty minutes after the liquidation, the whale added $10 million in USDC and opened a new long position on 9,580 ETH, worth about $23.26 million.
The trader used three Hyperliquid accounts for about $352 million in leveraged Bitcoin and Ether longs, spotted Oct. 7. Those holdings included 1,140 BTC and 98,090 ETH, opened roughly two weeks earlier near average entries of $82,205 and $2,604, with about $2.66 million in unrealized gains before the slump worsened.
Ether fell to about $2,420, triggering liquidations near $2,446 and $2,424. Afterward, the trader added $10 million USDC and bought 9,580 ETH futures near $2,428. Remaining exposure was near $288 million, including roughly $195 million in Ether longs and over $93 million in Bitcoin longs. Later liquidation levels sit near $2,299 and $2,286, about 8% below an Ether price near $2,486.
This episode may remind traders that large leveraged positions can amplify market swings, potentially triggering cascading liquidations that affect smaller investors and exchange users. It could also shape sentiment around Ethereum and Hyperliquid, as visible whale activity sometimes influences retail behavior. However, one trader’s renewed long does not determine broader market direction, and any societal impact likely remains limited to those exposed to crypto markets and related platforms.