According to @lookonchain, a newly created wallet 0x6988 deposited 5.18M USDC to Hyperliquid and opened a 25x long on ETH with a position size of 7,929 ETH valued at $30.32M; the reported liquidation price is $3,280.2. Source: @lookonchain on X and hypurrscan.io/address/0x6988C18f440297a6ef9857D44C87F9be423a6cEB. Based on the reported size and value, the implied average entry is approximately $3,824 per ETH, calculated as $30.32M divided by 7,929 ETH. Source: calculation using figures reported by @lookonchain on X. The wallet reference provided matches the hypurrscan address 0x6988C18f440297a6ef9857D44C87F9be423a6cEB associated with the reported activity. Source: hypurrscan.io/address/0x6988C18f440297a6ef9857D44C87F9be423a6cEB and @lookonchain on X.