Hyperliquid, the crypto derivative platform, has been faced with a large liquidation crisis in the last 24 hours. In HLP Vault, more than $ 4 million damages have occurred, and this loss is growing. The price of Altcoin is over 10 %depreciation in the middle of the event.
Altcoin whale left HLP pools in a difficult situation
According to the data of the On-Chain Analysis Platform EMERCN, a whale opened a Long position of 175,000 ETH (about $ 340 million) using high leverage. Thanks to this move, he made a profit that floats around $ 8 million (unrelated).
The whale closed 15,000 ETHs during the process and pulled the USDC to his wallet 17.09 million. However, the withdrawal of the amount deposited as collateral triggered the liquidation of the remaining 160,000 ETH position.
Due to the size of liquidation, Hyperliquid HLP has taken over this position from $ 1,915 and is currently trying to gradually melt this position. However, it is currently faced with more than $ 4 million damages.
According to CMC data, Hyperliquid (HYPE) depreciated over 10 %in the midst of whale sales.
New ETH Long position of $ 150 million with 50x leverage opened
On the other hand, Hypurrscan data shows that another major investor has opened a new ETH Long position.
- Using 50x leverage, the ETH Long position of about $ 150 million was opened.
- Average Entry Price: 1.884.4 dollars.
- Liquidation Price: $ 1.839.
- Current floating profit: 2.5 million dollars.
The same investor also received a high leverage position in Bitcoin:
- Using 20x leverage, BTC Long position of $ 25.5 million opened.
- Average Entry Price: 82.206.5 dollars.
- Liquidation Price: 62,640 dollars.
The critical process for Hyperliquid continues
These developments show that Hyperliquid is a critical process for risk management. Combined with huge leveraged processes, it can lead to serious liquidation risks when combined with market volatility.
For the time being, Hyperliquid Hlp Vault is reported to be trying to reduce the damage and closed positions in a controlled way. However, if the market shows more volatility, there is a possibility of deepening damage.
As we have quoted as Kriptokoin.com, the Altcoin market witnessed great liquidations during the week.
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