TREE NEWS reports: Hyperliquid’s STRK perpetual contract traded at $0.0665, down about 13% from the prior day’s reference price, leaving two whale long positions deep in the red. The largest STRK long, holding roughly 64.2 million STRK worth about $4.25 million on 5x cross margin, is sitting on an unrealized loss of about $1.019 million, a return of roughly -96%. A second address was liquidated on about 21.36 million STRK worth $1.466 million, realizing a loss of about $207,000, then reopened a roughly 4.79 million STRK long valued at about $319,000 on 5x isolated margin with a liquidation price near $0.059.
STRK’s largest long loses $1.019M; another whale liquidated for $207K
The detail that carries weight here is the second address: a liquidation followed by an immediate re-entry into a smaller 5x isolated long suggests conviction surviving a forced exit rather than a clean capitulation. With the largest long still open at a reported -96% return on cross margin, the positioning remains lopsided, which matters for how violent any further move could be. Whether that re-established long holds above its liquidation level, and whether the larger position is closed or absorbed, is the open question.
Generated by AI for reference only.
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