Only see thieves eat meat and never see thieves get beaten, lads—check out this Hyperliquid address for the third-largest single-asset position. It holds about 45,000$ETH with 8x leveraged long exposure; the position value is about $107M. Since it opened on August 31, it went from unrealized profit of over $5M to now an unrealized loss of over about $4M, and it has paid more than $540k in funding fees 🤡
This can be said to be a very intuitive lesson on leverage: the direction was once correct, and the price once gave profits, but the position was too big and the leverage too high—eventually it could still be knocked back by a drawdown. A large position doesn’t equal a smart position, and unrealized profit doesn’t equal real profit.
This can be said to be a very intuitive lesson on leverage: the direction was once correct, and the price once gave profits, but the position was too big and the leverage too high—eventually it could still be knocked back by a drawdown. A large position doesn’t equal a smart position, and unrealized profit doesn’t equal real profit.
