Ethereum Whale Shorts $25.5M on Hyperliquid; Singer Long Liquidated

An anonymous trader known as Evaded has opened a $25.49 million short position on Ethereum on the decentralized exchange Hyperliquid. The trade, executed on March 20, 2025, involves 12,600 ETH with 25x leverage. On-chain analytics platform Onchain Lens first flagged the move.

Details of the Short Position

The short adds to Evaded’s existing bearish bets. The same trader is maintaining a 30x leveraged short on Bitcoin valued at $71.5 million. According to available data, that position is showing unrealized profits of over $1.6 million, which suggests some degree of market timing success. Combined, the short exposure across both assets now totals nearly $97 million.

Liquidation of a Celebrity Long Position

In a contrasting development, a portion of a 25x leveraged long position on Ethereum held by Jeffrey Huang has reportedly been liquidated. Huang is a Taiwanese singer and crypto investor known for active trading on Hyperliquid. He had previously disclosed large long positions. The liquidation event highlights the risks of high-leverage trading, where even minor price movements can trigger forced closures.

These movements show the growing influence of decentralized exchanges like Hyperliquid, which allow high-leverage trading with minimal barriers. The actions of a single whale can create ripple effects, especially in thinner order books. For retail traders, these events are a reminder of the volatility and risks tied to leveraged positions. The divergence between Evaded’s bearish stance and Huang’s liquidated long also reflects the uncertainty surrounding Ethereum’s price direction.

Market Implications

The opening of a $25.5 million Ethereum short by a known whale, alongside the liquidation of a celebrity trader’s long, offers a snapshot of the high-stakes environment on Hyperliquid. While the whale’s existing Bitcoin short is profitable, the new Ethereum bet adds risk. These events signal a need for traders to monitor leverage levels and market sentiment closely.

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