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HYPE Anonymous trader "watershedpath" holds the largest long position in HYPE history, with a floating profit of US$58 million.
A trader named "watershedpath" currently holds the largest long position in the HYPE chain, with a floating profit of US$58 million. However, the trader took a margin of $18.5 million from the position. This provides a rare insight into the strategy of one of the largest holders of Hyperliquid native tokens.
Who is this HYPE whale?
According to chain data tracking, this position is worth approximately US$111 million, making it the largest long position on the HYPE chain. The position appears to have been held for quite some time. Data showed the trader "held it for almost a full year"-a undoubtedly long period of time in an industry where perpetual contracts are typically held for only a few days or weeks. The current profit of US$58 million has not yet been realized and will still be affected by fluctuations in HYPE prices.
What is striking about this detail is the subsequent operation of watershedpath. Instead of taking profits, he took a margin of $18.5 million from the position.
Withdraw margin rather than sell
Withdraw margin from profitable leveraged positions allows traders to make a profit without reducing their positions. However, this operation also carries risks. The reduction in margin means its liquidation level becomes lower, so once HYPE prices fall significantly, he will face liquidation faster than before. However, the relevant data did not disclose details such as the trader's clearing margin and entry price.
The above positions are held against the backdrop of the continuous changes in the ecosystem of the Hyperliquid exchange-the exchange's token is HYPE. In the past month, HYPE prices have soared by more than 46%, and have risen by another 16% in the past seven days. As of press time, HYPE was trading at US$82.06, with 24-hour trading volume of approximately US$1.16 billion.
