Analysis: HLP took over the liquidation position of 50 times leveraged whale ETH on Hyperliquid at a price of $1915, resulting in a floating loss of $3 million

Odaily Planet Daily News: According to on chain analyst Yu Jin's monitoring, the 50 times leverage giant whale on Hyperliquid closed 15000 ETH and withdrew 17.09 million USDC margin to be returned to the address for safekeeping. At the same time, due to his withdrawal of margin, the clearing price of 160000 ETH long positions rose, triggering liquidation; The liquidation position is too large. In order to avoid causing too much impact on the market, the mechanism of Hyperliquid is for HLP to take over the position and slowly liquidate it. HLP took over the position at a price of $1915. Currently, the 160000 ETH positions taken over by HLP are slowly liquidating in small amounts, and have already lost $3 million since taking over.