Amid recent declines in Bitcoin (BTC) prices, several major traders on the Hyperliquid platform have experienced significant losses. One of the most well-known market participants, trader @aguilatrades, has switched from a long to a short position, leading to losses.
Position Changes Among Hyperliquid Traders
Trader @aguilatrades, known for his discretion in disclosing trades, closed his long position in BTC, recording losses exceeding $12.4 million, before opening a short position with 20x leverage. His new wallet was identified just days before this event.
Recent Liquidations of Major Traders
On-chain data revealed that the trader closed a 40X leveraged long on BTC, leading to $12.4 million in losses. Shortly afterward, he opened a short position worth over $878,000. In recent days, multiple large traders, including other major participants, have also faced liquidations.
Hyperliquid Activity Remains at High Levels
Despite market volatility, activity on Hyperliquid continues to remain robust. The platform is showing increased trading volumes, especially during times of clear direction for major cryptocurrencies. The total value locked in the Hyperliquid ecosystem amounts to $1.6 billion, with recent records for USDC inflows.
The cryptocurrency market remains unstable, and recent liquidation events underscore the risks associated with high-leverage positions. Traders and investors are staying vigilant as they navigate the ever-changing crypto landscape.
