ME News reports that, as of August 25 (UTC+8), according to TradingBeats (formerly Hyperinsight), the largest loser of this market move, the whale address "pension-usdt.eth" starting with 0x0ddf, now has nearly zero funds remaining. On the early hours of August 20, this whale closed a long-held ETH short position of 50,000 ETH, incurring a loss of approximately $23.926 million—making it the largest liquidation on Hyperliquid in recent times. Prior to this, the whale had achieved 23 consecutive profitable trades: from mid-February to mid-June this year, its positions in BTC, ETH, and other assets accumulated total profits of approximately $19.127 million. This single loss amounted to 125.1% of those prior 23-win gains, wiping out all previous profits and adding an additional net loss of about $4.8 million. The whale initiated this ETH short position on the evening of June 20 at an average entry price of approximately $1,648.20, and closed it at an average exit price of about $2,126.70. During the holding period, ETH rose approximately 29.0%, causing the notional value of the position to increase to $106 million. The initial effective leverage was only around 2.3x; however, as sustained unrealized losses eroded equity, even this low-leverage position was eventually liquidated by the adverse market movement, and the trader has now fully exited. Among the last 100 completed trades, this address recorded 85 wins and 15 losses, achieving an 85% win rate—with 93 of those trades concentrated in BTC and ETH, and a median holding duration of only about 6.8 hours. This ETH short position, however, was held for over 60 days—the longest duration and largest single loss ever recorded by this trader. Since October last year, this address has accumulated net profits of approximately $39.294 million across 99 trades; after accounting for this loss, total profits have declined to approximately $15.367 million—this single trade reversed 60.9% of all previously accumulated gains. (Source: BlockBeats)
ETH short position losses $23.9M, erasing 23 consecutive wins
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Summary
On August 25 (UTC+8), the ETH price dropped sharply, resulting in a $23.9 million loss for a major short position held by the whale address 'pension-usdt.eth'. The position, opened on June 20 at $1,648.2, was closed at $2,126.7, wiping out all gains from 23 consecutive winning trades. ETH analysis shows that the 60-day rally of 29% led to a loss exceeding 125% of prior profits, reducing the whale’s total profit from $39.3 million to $15.4 million.
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