A Hyperliquid whale lost $10.5 million on a single Ethereum long, erasing 10 straight winning trades. The trader then opened a 10x leveraged long on $26.97 million worth of Solana (SOL).
The new bet lands with SOL at $70.27, down 20.94% over the past week, according to BeInCrypto Markets.
Even so, Hyperbot data shows the position would only be liquidated if SOL fell to about $36.82.
The ETH Long That Outstayed Its Welcome
Data from Hyperbot shows 10 consecutive profitable trades. Together, they earned $6.32 million, according to blockchain analytics firm Lookonchain.
Most of the winning ETH trades lasted minutes or hours. The losing one ran for roughly nine days, more than twice as long as any of them.
Over the past week, ETH has fallen 19.70% to $1,787.11. The single $10.5 million loss more than cancelled the streak, leaving the account $4.17 million down on closed trades.
That single $10.5 million loss more than cancelled the streak. The account now sits $4.17 million down on closed trades.
Rather than stepping back, the trader rotated straight into a new leveraged bet on another asset.
How Far Can SOL Fall Before the Hyperliquid Whale Is Wiped Out?
The new position holds 383,265 SOL at 10x leverage, with an average entry price of $70.49. The liquidation price sits near $36.82, about 48% below SOL’s current price.
SOL also took the hardest hit among large caps, based on the latest Solana price data. It fell 7.21% in 24 hours, the steepest drop among the 10 largest coins.
Analyst Michaël van de Poppe argued that SOL now sits unusually far below its 21-day moving average. He added that prices could still sweep lower, with resistance at $85 to $90 if a bounce comes.
In contrast, Crypto Patel offered a bleaker fallback. He said the $70 region must hold, or he would look to accumulate near $30. That $30 level sits below the whale’s liquidation price.
On the upside, a move to $85 would add roughly $5.6 million in paper profit. That alone would cover the $4.17 million deficit from the ETH trade.
The backdrop remains weak. Traders saw $1.97 billion in crypto liquidations over 24 hours, including $88.23 million in SOL, according to CoinGlass.
Spot SOL ETFs have also followed the wider crypto ETF outflows. The funds have shed $138.3 million without a single day of net inflows since October 21.
For now, the whale’s long can absorb a far deeper drop than this week’s slide. A fall toward $30, however, would wipe it out.
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