Data: An entity is dumping ETH on Hyperliquid through 11 wallets, having sold 31,700 ETH in the past 5 hours

According to MLM monitoring, a certain entity is continuously selling a large amount of ETH on Hyperliquid through 11 wallets to repay its loan on Aave:

In the past 5 hours, the entity has sold 31,700 ETH (approximately $80.8 million) on Hyperliquid; over the past 4 days, it has sold a total of 47,000 ETH (approximately $120 million). Currently, it is still depositing 49,600 ETH (approximately $112 million) into Aave as collateral while borrowing $86 million in USDC.

As the price of ETH declines, this position is nearing the liquidation threshold, forcing the entity to continuously sell ETH to repay debts in order to avoid complete liquidation.