HYPE drops below $21, multiple million-level whales' long positions face a series of liquidations

【Blockchain Rhythm】HYPE price plummeted to the $21 level this morning, triggering a series of chain liquidations on Hyperliquid. Monitoring data shows that multiple major long whale positions were collectively liquidated during this decline.

The largest long account 0x082, after months of silence, suddenly injected $1 million in margin into Hyperliquid last night, attempting to lower the average cost. This account increased its long position average from $20.13 to $19.33, but is still in deep loss — with a position size of $29.6 million, an average price of $38.67, and an unrealized loss of $23.78 million, with a paper loss of 401%.

The second-largest long account 0x also suffered. This account had already experienced a $26 million liquidation yesterday, and today was liquidated for another $7.01 million. Its position shrank from $13.06 million to $4.95 million, with an unrealized loss of $2.28 million, a drop of 230%, with the next liquidation price around $20.6. Meanwhile, multiple accounts like 0x666, 0xa8c, and others with millions in holdings also faced liquidations.

Even more tragic is the 0x1c2 account. This holder with a position worth over $10 million was liquidated for $10.64 million on HYPE longs, and their ETH long position was also liquidated with a loss of $2.32 million. The account now has only $320,000 left and has exited the market.

Risks are not fully released yet. According to the current distribution of liquidation prices, if HYPE drops to the $20.3–$20.6 range, Hyperliquid will trigger another round of over $23 million in liquidations. The involved accounts include the previously mentioned 0x, 0x433, 0x666, 0xead, and several other whales, with their liquidation prices clustered within this narrow range.