Crypto Whale Adds $8.6M USDC to Hyperliquid to Avoid Liquidation
Whale adds $8.6M USDC to Hyperliquid to save massive $ETH short from liquidation after $20M loss.
- Whale added $8.6M USDC to Hyperliquid
- Shorted ETH at ~$2,969 in July
- $20M loss with new liquidation price $4,885.3
A large crypto whale, identified as wallet 0x8c58, has made another hefty deposit to keep a risky trade alive. Over the past 24 hours, the whale transferred $8.6 million USDC into the decentralized exchange Hyperliquid. This move was aimed at adding more margin to a massive short position on Ethereum ($ETH), which has been steadily moving against him.
The whale initially opened the short on July 12, betting that ETH would drop from around $2,969. However, the market had other plans. ETH prices climbed, putting his position in danger of liquidation.
From Bad Trade to Bigger Risk
Instead of closing the losing trade, the whale has repeatedly injected more funds to keep it alive. This strategy is often risky — adding margin can delay liquidation, but it also increases potential losses if the market continues to move against the position.
According to blockchain data, the whale’s total unrealized loss now stands at $20 million. Despite the pain, the latest margin top-up has shifted his liquidation price to $4,885.3, meaning ETH would have to surge significantly higher before his position is forcibly closed.
What It Means for the Market
Large-scale moves like this can capture the crypto community’s attention for two reasons: the sheer size of the capital involved, and the psychology behind refusing to close a losing position. While whales have the resources to sustain large drawdowns, this strategy can backfire spectacularly if market trends continue against them.
For now, the whale’s bet remains active, and traders will be watching closely to see whether Ethereum’s price movement vindicates his persistence — or adds to his already steep losses.
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