Analysis: HLP took over the Whale liquidation Position on Hyperliquid with 50 times leverage at a price of $1915, currently facing a floating loss of $3 million.

According to on-chain analyst Yu Jin's monitoring, Hyperliquid's 50x leveraged Whale closed a position of 15,000 ETH, withdrawing 17.09 million USDC margin back to the address. At the same time, due to the withdrawal of margin, the liquidation price of 160,000 ETH long positions was triggered by the rise; the liquidated position is too large. To avoid causing excessive impact on the market, Hyperliquid's mechanism is to take over the position by HLP and then slowly close it out. HLP took over at a price of $1,915, and the 160,000 ETH position taken over by HLP is being slowly closed out in small amounts, with a floating loss of $3 million after taking over.