On-chain analyst Ember said the largest long trader on Hyperliquid is holding BTC and ETH long positions worth a combined $487 million across 11 addresses, with the positions open for nearly four months. According to the figures shared by the analyst, the trader is long 3,000 BTC valued at $216 million at an average entry price of $72,000, and 120,000 ETH valued at $271 million at an average entry price of $2,260.
Ember also said the account had previously been hit by a drawdown after prices moved lower following the long entries. In early July, the trader’s maximum floating loss reached $120 million. After two days of price gains, the position has now returned to break-even.
The update focuses on the size, duration and average cost of the positions, as well as the reversal from a large unrealized loss back to flat. No additional details on the identity of the trader were disclosed in the source report.
According to ChainCatcher, on-chain analyst Ember said the largest long trader on Hyperliquid is holding BTC and ETH long positions worth a combined $487 million through 11 addresses. The positions have been held for nearly four months.
Position breakdown
The trader is long 3,000 BTC valued at $216 million, with an average entry price of $72,000. The same entity is also long 120,000 ETH valued at $271 million, with an average entry price of $2,260.
From deep unrealized loss to break-even
Ember said the trader had been under pressure after prices fell following the long entries. In early July, the position at one point showed a maximum floating loss of $120 million. After two days of gains, the position has now recovered to break-even.
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