The giant whale closed ETH and HYPE long positions within three hours, reducing the position size by 18.8 million dollars

ChainCatcher news, according to HyperInsight monitoring, in the past three hours, whale addresses starting with "0x88b" have significantly closed ETH and HYPE long positions during the market correction. A total of 3,858 ETH long positions and 89,000 HYPE long positions were reduced, with the nominal value of holdings decreasing by approximately $18.8 million, and weekly losses narrowing from $5.8 million to $1.9 million. The current total holding value of this address is approximately $55.6 million.

It is reported that this address previously chased BTC at an average price of about $118,000 with 40x leverage, and the current position is facing an unrealized loss of over 252%, amounting to about $2.48 million. Its long positions in SOL, HYPE, ETH, etc., were also trapped at high levels, currently still facing an unrealized loss of $3.16 million.