According to @EmberCN, multiple leveraged Ethereum (ETH) whale or institutional borrowers are being stopped out at the current price zone. According to @EmberCN, one identified address cluster executed stop-loss exits totaling about 36.9K ETH on Hyperliquid over four days and withdrew roughly 82.36M USDC to repay debt. The source adds that the deleveraging is ongoing, with about 56K ETH still being reduced, according to @EmberCN.

According to @EmberCN, a whale’s ETH long on Hyperliquid was liquidated with an estimated 230M USD loss. Per @EmberCN, the same address is also stopping out a leveraged spot position, selling 50,000 ETH (about 112.8M USD) to reduce leverage. Per @EmberCN, the address opened a 148,000 ETH leveraged long at 2,883 USD roughly a week earlier, after which ETH fell toward 2.2K USD, leading to the liquidation and de-leveraging.

According to @OnchainLens, on HyperLiquid, wallet 0x8d0 deposited $3M USDC and opened a BTC long with 20x leverage after previously losing over $11M, source: @OnchainLens. According to @OnchainLens, wallet 0x218 deposited $5.2M USDC and opened a BTC short with 14x leverage after previously making $10M, source: @OnchainLens.

According to Onchain Lens, a newly created wallet deposited 3.18 million USDC into HyperLiquid and opened a 20x leveraged long position on ETH (source: Onchain Lens). Onchain Lens also noted the whale is likely to increase the position or open a new one (source: Onchain Lens). Based on the on chain flows flagged by Onchain Lens, traders are monitoring ETH perpetuals on HyperLiquid for shifts in funding rates, open interest, and nearby liquidation clusters that could drive short term volatility (source: Onchain Lens). Onchain Lens’ disclosure highlights concentrated leverage that can amplify price moves and raise liquidation risk if price reverses (source: Onchain Lens).

According to Onchain Lens, a whale deposited 1.127 million USDC into HyperLiquid and opened a 10x leveraged short position on BNB; source: Onchain Lens on X and CoinMarketMan HyperTracker. Onchain Lens also reports the same wallet previously realized 4.57 million dollars in gains across XPL, HYPE, and other trades; source: Onchain Lens and CoinMarketMan HyperTracker. This activity indicates a high-leverage bearish exposure to BNB on a derivatives venue; source: Onchain Lens.

According to @EmberCN, the two largest ETH long positions on Hyperliquid have been liquidated and Trend Research has begun stop-loss reductions, source: @EmberCN. According to @EmberCN, a whale with roughly $181 million in ETH longs was fully liquidated with about $54 million in total losses, source: @EmberCN. According to @EmberCN, another whale with roughly $660 million in ETH longs was fully liquidated with about $230 million in total losses, source: @EmberCN. According to @EmberCN, the author questioned whether the short-term move may be near exhaustion, source: @EmberCN.

According to @ai_9684xtpa, a top A9 trader on Hyperliquid who once had unrealized profit of about $142 million was fully liquidated after a sharp drop in BTC and ETH, wiping out a large long exposure reportedly sized around 700 million; the trader’s PnL trail and positions can be viewed on hyperbot.network/trader/0xb317d2bc2d3d2df5fa441b5bae0ab9d8b07283ae (source: @ai_9684xtpa; data: hyperbot.network). According to @ai_9684xtpa, BTC broke 76k and ETH fell near 2250, triggering precise liquidation on the account’s largest ETH long with a stated liquidation level around 2262.7, turning prior gains into an alleged $230 million loss over 56 days from an initial opening on 2025-12-07 (source: @ai_9684xtpa; data: hyperbot.network/trader/0xb317d2bc2d3d2df5fa441b5bae0ab9d8b07283ae). According to @ai_9684xtpa, Hyperliquid’s HLP treasury captured about $15 million in profit from the event, with aggressive short sellers also benefiting as the position unwound (source: @ai_9684xtpa).

According to @EmberCN, a whale’s roughly 230 million USDC long on Hyperliquid held for nearly two months was fully liquidated when ETH dropped to about 2.2k at 02:43, wiping the position’s margin (source: @EmberCN). The trader had transferred around 230 million USDC into Hyperliquid in early December to open the long, and the liquidation consumed the entire amount (source: @EmberCN). Despite this loss, the entity still holds assets valued around 4.8 billion, including approximately 901,000 ETH and 33,000 BTC (source: @EmberCN). For traders, this confirms that a widely watched whale liquidation level on ETH perpetual futures was reached on Hyperliquid, marking a key deleveraging event on the long side (source: @EmberCN).

According to @BullTheoryio, Bitcoin dropped about $2,800 in roughly 10 minutes, triggering approximately $1.07 billion in long liquidations across derivatives. According to @BullTheoryio, around $696 million of those long liquidations occurred on the perp DEX Hyperliquid, indicating heavy leveraged exposure concentrated in BTC perpetuals.

According to @OnchainLens, a dormant whale sold 799 ETH for USDC, deposited the funds to HyperLiquid, and opened a 20x ETH long from another wallet (source: Onchain Lens on X). According to @OnchainLens and the referenced CoinMarketMan HyperTracker wallet data, the entity now holds two ETH long positions across two wallets with a combined value of $33.28M (source: Onchain Lens; CoinMarketMan HyperTracker).

According to @lookonchain, a whale that sent 45M USDC to Hyperliquid to accumulate HYPE capitulated during the market crash, selling the entire HYPE position and realizing about $3.72M in losses (Source: https://x.com/lookonchain/status/2017630868148482417). On-chain transaction records for address 0x9D26f5Bc7E5C7f767eade0b9De58d94f49301BfF confirm the deposit, HYPE purchases, and full exit sequence as cited (Source: https://hypurrscan.io/address/0x9D26f5Bc7E5C7f767eade0b9De58d94f49301BfF; Source: @lookonchain).

According to @ai_9684xtpa, wallet 0xd9012A0C82242B04ee09E45e98B24903F982D975 deposited 6 million USDC to Hyperliquid and placed two conditional buy orders, source: @ai_9684xtpa and https://hyperbot.network/trader/0xd9012A0C82242B04ee09E45e98B24903F982D975. The orders target buying 73.46 BTC if price trades within 60,555 to 75,555 and 100,000 HYPE within 15 to 20.38, with notional sizes about 5 million dollars and 1.77 million dollars respectively, source: @ai_9684xtpa and https://hyperbot.network/trader/0xd9012A0C82242B04ee09E45e98B24903F982D975. The setup was described as bottom-fishing by the source, according to @ai_9684xtpa, source: @ai_9684xtpa.

According to @lookonchain, the 'Anti-CZ' wallet 0x9eec on Hyperliquid was liquidated 19 times over the past two days and is now fully liquidated. Source: Lookonchain; Hyperliquid trade history. @lookonchain reports the account swung from more than 61 million in gains to over 10.75 million in losses. Source: Lookonchain; Hyperliquid trade history. All events are traceable via Hyperliquid's on-chain trade history for 0x9eec, reflecting a large forced unwind on an on-chain perpetuals venue. Source: Lookonchain; Hyperliquid trade history.

According to @lookonchain, trader Machi (@machibigbrother) was liquidated 14 more times in the past 6 hours, bringing his total to 241 liquidations, with his account balance now at $20,815 (source: @lookonchain). The same source earlier reported that his prior 144,573 USDC deposit on Hyperliquid was wiped and that he deposited another 249,837 USDC to continue longing ETH and HYPE, with positions then noted at 2,000 ETH and 10,889 HYPE (source: @lookonchain).

According to @EmberCN, a whale withdrew 45 million USDC from Binance and bought 1.243 million HYPE on Hyperliquid using 41.32 million USDC at an average of 33.2 USD, source: @EmberCN. The whale then sold into the pullback and fully exited the 1.243 million HYPE position about 30 minutes before the post, realizing an estimated 3.73 million USD loss over three days, source: @EmberCN.

According to @OnchainLens, newly created wallet 0x9D2 bought HYPE for $44.99M, fully exited for $41.27M, realizing a $3.72M loss over three days. According to @OnchainLens, the same wallet had earlier deposited a total of about $45M into HyperLiquid and accumulated 277.1K HYPE, with activity tracked via HyperBot and CoinMarketMan.

According to @lookonchain, whale address pfm.eth deposited 5M USDC into Hyperliquid over the past 12 hours to build long exposure to silver via the on-chain $SILVER market. According to @lookonchain, the address opened a 1x long on 17,305 SILVER worth about $1.49M, with roughly $1.66M in additional limit buy orders still waiting to be filled.

According to @ThinkingUSD, Hyperliquid is showing rapid product market fit with volumes growing 55% daily and over 30% of total exchange volume now coming from non-crypto sources, underscoring idiosyncratic returns with long volatility and long convexity exposures. The post adds that HIP-3 volumes and open interest are expanding over 100% weekly to billions in average daily volume, with fees split 50/50 between Hyperliquid and HIP-3 providers, pointing to uncorrelated returns and exposure for traders seeking diversification and liquidity depth in DeFi derivatives markets. Source: X.com/@ThinkingUSD

According to @lookonchain, Machi’s previous 144,573 USDC deposit on Hyperliquid has been lost, and he has now deposited another 249,837 USDC to continue long exposure in ETH and HYPE (source: @lookonchain). According to @lookonchain, his current disclosed positions are 2,000 ETH and 10,889 HYPE on Hyperliquid (source: @lookonchain).

According to @OnchainLens, a previously dormant address for two years sold 699 ETH for about 1.876 million USDC, deposited the funds to HyperLiquid, and opened a 20x leveraged ETH long valued around 18 million, source: @OnchainLens. Based on the same source, traders may monitor ETH perpetuals funding, open interest shifts, and potential liquidation clusters on HyperLiquid and major venues to gauge risk and liquidity dynamics, source: @OnchainLens.