2026-01-21 08:25:03

From on-chain data, the whale holdings on the Hyperliquid platform show an interesting tug-of-war. The total whale holdings currently reach $6.353 billion, with long and short positions nearly evenly matched — longs control $3.075 billion (48.39%), while shorts hold $3.279 billion (51.61%), with the bears slightly ahead.

In terms of profit and loss, the two sides are diverging. The long camp is currently in collective loss, with unrealized losses reaching $256 million. In contrast, short holders have earned $356 million, indicating a more obvious win rate for the bears.

What’s more noteworthy is the operation of some aggressive whales. One whale address chose an extreme move when ETH price was $3,161.85 — going 5x full margin long. Currently, this bet has a floating loss of $40.5489 million. Such high leverage strategies pose significant risks if the market moves in the opposite direction. The market focus remains on ETH’s trend, and the chip contest among whales will continue to unfold.

ETH2,27%

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FundingMartyr

· 12h ago

Shorts are making a killing, longs are still bottom-fishing, this is the current situation. 5x full position? Bro, are you gambling with your life... Wait, is that whale trying to dump again? The longs are taking quite a hit, feeling uncomfortable. The shorts are really enjoying it now, making 356 million so easily? It's ETH again, always ETH causing trouble. That whale with an unrealized loss of over 40 million remains calm, truly a big player mentality. This game isn't that simple, it will continue to reverse.

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RektHunter

· 01-21 08:55

The short sellers made a killing this round, while the bulls just laid flat and lost 256 million... Is that whale who went all-in with 5x leverage a real warrior or just really foolish?

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MidnightMEVeater

· 01-21 08:50

Good morning, night creatures. This is the true face of midnight arbitrage—long positions lost 256 million, shorts are making a killing, and whales are tearing each other apart in the liquidity trap. That guy with 5x full margin—this is what you call the cost of a price shock. A floating loss of over $40 million, just as tuition. Next time, remember to check the dark pool depth. Honestly, this tug-of-war is my favorite robot playground. Whoever reverses first is the dish on the dinner table. Wait, shorts made 356 million, longs lost 256 million, what about that missing billion... oh right, it was eaten by the sandwich attack of the arbitrageurs. When will this chip battle end? I'm tired.

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GateUser-addcaaf7

· 01-21 08:43

This whale is really ruthless... Using 5x leverage to go long and directly losing over 40 million, this move is a bit outrageous. The shorts are now having a blast, all the longs are bleeding. What exactly does ETH want to do? I really can't understand these whales' money. With such a tug-of-war between bulls and bears, it feels like the real show is just beginning. This guy really dares to play, but the risk... I think I'll pass. The shorts earning 356 million is a bit crazy, the longs have really been hammered hard. Using 5x leverage at this position? Wake up, guys, you're gambling with your lives. The money among whales is being cut from each other, we're retail investors just here to watch the fun. Longs, keep going, don’t let the shorts keep having all the fun. Why does it feel like the longs are getting more and more desperate... Can they really turn the tide?

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