A whale address beginning with 0x000 was forcibly liquidated on 152,500 BRENTOIL short contracts early on Aug. 11, according to TradingBeats, formerly Hyperinsight. The liquidation was valued at about $13.209 million, with a weighted liquidation price near $86.61. TradingBeats said it was the largest single liquidation tracked across the market for the day.
The trader did attempt to cut losses before the wipeout, but the exit did not keep pace with the move in oil. Before the liquidation, the address held about 179,300 BRENTOIL short contracts at a blended entry price of roughly $80.58. As Brent crude continued to rise, the address placed a reduce-only TWAP buyback order in the early hours, aiming to actively close 44,000 short contracts.
That effort only partially went through. Before the forced liquidation was triggered, the TWAP order filled just 26,800 contracts, worth about $2.315 million. That represented only about 15% of the original position and realized a stop-loss of roughly $154,000.
The remaining 85%, or about 152,500 short contracts, did not get out in time and was liquidated in one shot when Brent climbed to around $86.61. Based on the blended entry of $80.58, the move against the position had reached about 7.5% by the time liquidation was triggered. TradingBeats said the stop-loss trades and the later liquidation together resulted in a realized loss of about $1.073 million for the address.
Losses on oil futures in August widen to about $1.162 million
This was not the address's first hit in oil markets. On Aug. 4, its BRENTOIL and CL short positions were liquidated in succession, with a combined liquidation value of about $3.823 million and realized losses of roughly $116,000. Including the latest event and other trades in between, the address has recorded a cumulative net loss of about $1.162 million on oil futures so far in August.
Hormuz reopening outlook shifts again as Brent jumps
TradingBeats linked the liquidation to another change in expectations around the reopening of the Strait of Hormuz. Iran said shipping would resume only after the U.S. met conditions including war compensation, while Trump rejected those demands. The market then repriced the risk of supply disruption, pushing Brent crude up about 5% to $87.72.
As of publication, BRENTOIL was trading at about $86.82, up roughly 3.7% over the past 24 hours. Turnover stood at about $171 million, open interest was around $223 million, and the hourly funding rate had fallen to about -0.0099%.
TradingBeats also said its on-chain perpetuals and address analytics tool is now live, offering real-time Hyperliquid data and address-level tracking of whale activity.