ChainCatcher report, according to Hyperinsight monitoring, South Korea’s stock index fell sharply by 6.7% today, temporarily triggering a circuit breaker. As a result, EWY (iShares Korea ETF mapping contract) deployed by Trade.xyz on the Hyperliquid platform also declined significantly, currently trading at $122.5, with a 24-hour drop of 4.2%. The largest long position on-chain (0x629) was hit hardest, with its position briefly declining to -83%. The position size stands at $5.5 million, with an average entry price of $128.9 and a liquidation price of $117.7, resulting in a liquidation of 4.1%.
Whale with $5M Position in Korean ETF on Chain Suffers 83% Short-Term Drawdown
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Summary
On-chain trading signals reveal that a major EWY holder on Hyperliquid lost 83% of its short-term value as the Korean index declined 6.7%, triggering a circuit breaker. The EWY ETF, currently at $122.5, fell 4.2% over 24 hours. The largest position (0x629), valued at $5.5 million, was opened at $128.9 with a liquidation price at $117.7. Position trading risks are underscored as 4.1% of the position was liquidated.
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