The Cryptocurrency trader, which tested the limit of hyperclicade on March 12, was in another million dollars in Chainlink (Link).
According to LOCEONCHAIN, a Web3 Analytics Service, an anonymous whale that referred to X “ETH 50x Big Guy” on March 14 on March 14 was a long position on a $ 30 million link.
He said on March 14 that he bet on the two popular permanent exchanges, Hyplerliquid and GMX in X POST. Whales also accumulated about $ 12 million in spot links.
After that, the whale gradually reduced its link retention through a small swap according to the onchain data.
source: Lookonchain
relevant: Hyper Clicade UPS is a margin requirement after $ 4 million liquidation loss
Large trading profit
On March 12, an unidentified merchant deliberately cleared about $ 200 million in ETH positions, losing $ 4 million for HLP, the liquidity pool of Hyperliquid. Merchants’ interests accounted for about $ 1.8 million.
According to Lookonchain, the Trader earned almost $ 17 million last month.
The incident emphasized the problems faced by a permanent trading platform, such as a hyperklicade, so that the trader can take several times larger or short positions than the deposit capital.
Hyperliquid said that the merchant’s behavior is not eligible for exploitation and instead is the predictable result of the epidemiology of the trading platform under extreme conditions.
In response to the loss, Hyperliquid, published on March 13, revised the mortgage rules for traders with open positions to prevent the future similar edges.
The flagship Perpetuals Exchange, which was released in 2024, accounted for 70%of the market share that surpassed rivals such as GMX and DYDX, according to an asset manager VANECK’s January report.
Chainlink, the most popular decentralized Oracle service, has seen the price of unique link tokens more than 150% for a few weeks after President Donald Trump prevails.
According to Coingecko’s data, profits have given up a lot of profits, which have decreased from $ 30 per token in December to less than $ 14 as of March 14.
Chainlink’s market cap is currently about $ 8.7 billion.
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