Whale activity on the Hyperliquid platform has reached a massive $2.689 billion in open positions as of February 10, 2026. Data from Coinglass indicates a slight bearish tilt among the platform's biggest players, and the results are showing up in the profit/loss columns.
The Breakdown: Longs vs. Shorts 📊
The market is currently split, but the "smart money" seems to be leaning into the short side:
Short Positions: $1.366 billion (50.81%). Current Profit: +$261 million ✅ Long Positions: $1.323 billion (49.19%). ICurrent Loss: -$146 million ❌
Whale Spotlight: The $2M+ ETH Gamble 📉
One specific whale address (0xa5b0..41) is currently feeling the heat. This high-conviction trader opened a 15x leveraged long position on Ethereum (ETH) at an entry price of $2,059.8.
The Result: As of today, this address is sitting on an unrealized loss of $2.796 million.
The Bottom Line
With Hyperliquid's total open interest (OI) recently falling below the $5 billion mark, the market sentiment is turning cautious. While shorts are currently winning the battle, high leverage (like 15x) leaves these whales vulnerable to sudden "wick" liquidations if the market bounces.
Is this the beginning of a deeper correction, or is the $2,000 ETH floor about to hold? 🤨
👇 Drop your thoughts below—are you siding with the shorts or the long-suffering whales?
#Hyperliquid #ETH #WhaleWatch #Liquidations #cryptotrading