Anonymous whale faces $58M loss on largest ETH long position

An anonymous whale holding the largest long position in Ethereum (ETH) on Hyperliquid (HYPE) is currently facing a loss of $58 million, according to EmberCN. The investor holds the position across four addresses with an average entry price of $2,261. EmberCN explained that the whale has added 11 million USDC in collateral to prevent liquidation, lowering the liquidation price from $1,617 to $1,506.