What to know:
- An Ether trader’s short position on Hyperliquid shifted from an unrealized profit of $26 million to a $716,000 loss.
- The trader, identified by wallet address 0xCB92, increased their short position as ETH prices escalated, triggering a stop-loss.
- This event is reminiscent of trader James Wynn’s previous significant losses on Hyperliquid.
An Ether trader, recognized only by their wallet address, became a focal point in blockchain discussions after their substantial short position turned from a promising profit into a loss in mere days.
According to information from Lookonchain, wallet 0xCB92 initiated a 50,000 ETH short position on Hyperliquid, which at its peak displayed an unrealized profit exceeding $26 million. However, the trader did not close the position even as they added 10,000 ETH more, despite an uptick in prices.
As ETH continued to rise, this move resulted in a $716,000 loss.
“Unbelievable! From a profit of over $26M to a $716K loss. 馃槺 Smart trader 0xCB92 watched his 50K ETH short position climb to over $26M in unrealized gains but never closed. As ETH surged, his position hit stop-loss, leaving him with a $716K loss.”
This trader’s actions resemble the tactics employed by notorious trader James Wynn, known for spectacular losses in the market.
