On March 12, official data revealed that the HyperLiquid Treasury (HLP) suffered a short-term loss of over $4 million, with many speculating that the cause of this substantial loss was tied to the liquidation of a massive 160,000 ETH position. The event marks a significant moment for HyperLiquid, a platform known for its high-leverage trading, as the liquidation occurred at a time of heightened market volatility, resulting in a ripple effect that extended beyond the immediate trading event. The liquidation involved a whale who held a $306 million position in Ethereum (ETH) at a price of $1,915 per ETH. Using
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