According to @lookonchain, a newly created wallet 0x93c8 deposited 8M USDC into Hyperliquid and opened a 25x long on 10,695 ETH with $37M notional, setting a liquidation price at $2,808.2 (source: @lookonchain; source: Hypurrscan address shared by @lookonchain). Based on the reported position size and notional, the implied average entry is approximately $3,459 per ETH and the liquidation level is about 18.8% below that entry, highlighting a high-leverage risk point for ETH traders on Hyperliquid (calculated from figures reported by @lookonchain).