NEWSLETTER
The cryptocurrency merchant whose ultra -verted ether (eth (eth) tested the limits of the hyperlichid on March 12 has entered another multimillionaire position, this time in Chainlink (link), as shown by Ochain's data.
On March 14, the Anonymous Whale, referred to in x as “eth 50x Big Guy”, took long positions in a link that is worth approximately $ 31 million with 10 times leverage, according to Lookonchain, a web3 analysis service.
He made the bets in Hyplerliquid and GMX, two exchanges of popular perpetuals, lookoonchain <a target="_blank" data-ct-non-breakable="null" href="https://x.com/lookonchain/status/1900496078258213100″ rel=”nofollow noopener” target=”_blank” text=”null” title=”https://x.com/lookonchain/status/1900496078258213100″>saying In a March 14 position x. In addition, the whale accumulated approximately $ 12 million in spot link.
In the following hours, the whale gradually reduced its link holdings through small swaps back to Stablecoins, according to Ochain data.
Fountain: <a target="_blank" data-ct-non-breakable="null" href="https://x.com/search?q=0xf3f496c9486be5924a93d67e98298733bb47057c&src=typed_query” rel=”nofollow noopener” target=”_blank” text=”null” title=”https://x.com/search?q=0xf3f496c9486be5924a93d67e98298733bb47057c&src=typed_query”>Lookonchain
Related: Hyperlichid UPS margin requirements after $ 4 million liquidation loss
Massive commercial gains
On March 12, the unidentified merchant intentionally liquidated an eth position of approximately $ 200 million, which caused the Hyperliquid liquidity group, HLP, to lose $ 4 million. The merchant's profits exceeded approximately $ 1.8 million.
According to Lookonchain, the merchant has won almost $ 17 million in the last month in Hyperliquid.
The incident highlighted the challenges faced by perpetual commercial platforms such as hyperlichid, which allow merchants to take long or short positions many times larger than their capital deposited.
Hyperliquid said the merchant's actions did not qualify as an exploit and, on the other hand, were a predictable consequence of the mechanics of their negotiation platform in extreme conditions.
In response to losses, Hyperliquid announced on March 13 reviewed guarantee rules for merchants with open positions to protect against similar edge cases in the future.
Run in 2024, the exchange of perpetual flagship of Hyperliquid has captured 70% of the market share, surpassing rivals such as GMX and DYDX, according to a January report of the Vaneck Assets Manager.
Chainlink, the most popular decentralized oracle service, saw that the price of its native link token increased by more than 150% in the weeks after President Donald Trump prevailed in the United States elections.
Since then he has given up a large part of these profits, decreasing from maximum of almost $ 30 per Token in December to less than $ 14 from March 14, according to data Coingcko.
Chainlink market capitalization is currently around $ 8.7 billion.
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