A whale address beginning with 0x0ddf, tagged as "pension-usdt.eth," has seen its account nearly drained after taking what TradingBeats, formerly Hyperinsight, described as the biggest loss in the current market move.
A 50,000 ETH short closed with a $23.926 million loss
According to TradingBeats, the trader exited a roughly 60-day ETH short in the early hours of Aug. 20. The 50,000 ETH position posted a loss of about $23.926 million, making the address the largest recent liquidation-related loss case on Hyperliquid.
The whale began building the short on the evening of June 20 at an average entry price of about $1,648.2. The position was later closed at an average price of about $2,126.7. Over that holding period, ETH gained about 29.0%, while the position’s notional value rose to $106 million.
The trade started with effective leverage of only about 2.3x. But as unrealized losses kept eating into equity, the low-leverage short was still pulled into liquidation by the move against it. The trader has now fully exited the position.
One loss erased the profits from 23 straight winning trades
Before this trade, the whale had recorded profits on 23 consecutive completed positions. From mid-February to mid-June this year, its BTC, ETH and other trades generated about $19.127 million in cumulative profit.
The latest loss amounted to 125.1% of the gains from that 23-trade winning run. It not only wiped out the full amount, but also left the trader down by roughly another $4.8 million relative to those earlier profits.
85 wins in the last 100 completed trades
Across its most recent 100 completed trades, the address posted 85 wins and 15 losses, for an 85% win rate. Of those, 93 were concentrated in BTC and ETH, and the median holding time was only about 6.8 hours.
That made this ETH short highly unusual for the trader. It was held for more than 60 days, the longest duration among its trades, and also the one with the largest single-trade loss.
Cumulative profit since last October falls to $15.367 million
TradingBeats data shows that since October last year, the address had generated net profit of about $39.294 million across 99 trades. After including this ETH short loss, cumulative profit fell to about $15.367 million, meaning one trade gave back 60.9% of the previously accumulated profit.