According to BlockBeats, on May 14th, monitoring by Hyperinsight shows that the largest ETH long position on-chain, associated with the whale 'BIT', has seen its $247 million position fall underwater, with unrealized losses expanding to $2.75 million. This whale has diversified its long positions across four addresses on Hyperliquid, totaling 110,000 ETH with an overall weighted leverage of about 18x, having recently increased its holdings by approximately 11,000 ETH.

Calculated using a weighted approach based on the four addresses' fund allocations, this whale's average entry price is around $2271. As ETH prices have dipped, this whale's P&L has retraced about $13.08 million from last week's peak, with a funding rate settlement loss of approximately $760,000.

It is reported that this address belongs to the digital financial services group BIT (formerly Matrixport), which has repeatedly received fund transfers from its holdings, previously going long on ETH in the scale of hundreds of millions, profiting over 50 million dollars.

Address: 0xa5b0edf6b55128e0ddae8e51ac538c3188401d41

Address: 0x6c8512516ce5669d35113a11ca8b8de322fd84f6

Address: 0xa875890465dA20062bCF3b024Bf7d54E69C725a8

Address: 0xfd423284f6a9c73a2a3d53cab8921d6533533d97

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