Whale’s 8x leveraged ETH long shows $4.3M unrealized loss

An anonymous whale address beginning with 0x039 has been sitting on an unrealized loss of about $4.295 million on an 8x leveraged long position of roughly 45,000 ETH held since Aug. 31, on-chain analyst ai_9684xtpa said on X. The position is currently worth about $107 million, making it the third-largest single ETH long position on Hyperliquid. The average entry price is $2,486, and the liquidation price is $2,182. ai_9684xtpa added the address appears to be opening a position for the first time, while estimating that an existing large trader likely used a new address this time.