ETH Whale Wiped $2.46M, Reopens 25x Long on 1,495 ETH
A $2.46M wipe in seconds
An ETH whale on Hyperliquid took a $2.46M hit in the early hours of Friday, then loaded back up at even higher size. Liquidation records show two long positions closed three seconds apart at around 04:30 Beijing time: 799.3 ETH at $2,467.60, worth $1.97M, and 199.8 ETH at $2,463.90, worth $492K. The pair of forced closes landed as ETH slid toward $2,430 after the BTC-led short squeeze stalled.
Who got cleaned out
The account is flagged as a whale in Hyperliquid tracking data and shows cumulative trading volume of roughly $944M, with seven liquidation events on record. Its two ETH longs that died on Friday morning were the largest single marks against it in the past week. Combined, they account for $2.46M of the $135.9M in ETH liquidations tracked across major venues over the past 24 hours. Longs paid $97.7M of that total, so the wipe concentrated on the leveraged long side as spot drifted lower.
The reload: 1,495 ETH at 25x
Getting liquidated did not push this trader out of the market. A position reading taken about an hour later shows the same address holding 1,495.1 ETH long, opened near $2,452.59, with isolated leverage at 25x and about $148.5K in margin. The position is worth roughly $3.67M at current prices and sits slightly in profit, with unrealized gains near $2.2K.
The liquidation price on the new position is $2,402.82. ETH last traded around $2,454 on Binance and OKX, which puts the forced-close line about 2.1% below the market. A 25x isolated long only needs a move near 4% against it to erase the margin, so the real buffer is thinner than the percentage gap suggests.
What this says about leverage in this tape
The re-entry is the part worth reading carefully. The same wallet that just lost 998.6 ETH in forced closes reopened with 1,495 ETH, roughly 50% more size, at the same 25x leverage. That is a directional view that survived a flush, not a panic unwind. It also keeps a cluster of leveraged ETH longs anchored near $2,400, which matters for how a pullback would behave.
ETH's 24-hour range sits at $2,428 to $2,548, a band of about 4.7%. Inside that band, a 25x position is always within one wick of its liquidation line, so the near-term script is binary: hold above $2,402 and the reloaded longs stay in control of the bid, or lose that level and forced selling can extend the dip.
The level to watch
$2,402.82 is the hard reference. If ETH slides back through it, this position and similar longs clustered near $2,400 face forced unwinds, which can feed a drop. On the upside, $2,547 on Binance and $2,548 on OKX mark the 24-hour high from the earlier squeeze; a break above that lifts the whole reloaded cluster into clearer profit. For traders who follow liquidation data, the telling detail is that the same wallet re-entered within the hour, a signal that the flush did not change its view on direction, only its entry.
Data as of 05:30 Beijing time on September 5, covering Binance, OKX, Bybit, Hyperliquid, Gate and Bitget among major venues; ETH price references verified against Binance and OKX.