An anonymous cryptocurrency whale holding the largest known long position in Ethereum (ETH) on the Hyperliquid (HYPE) decentralized exchange is currently facing an unrealized loss of approximately $58 million, according to on-chain analytics firm EmberCN. The whale’s position is spread across four separate addresses, with an average entry price of $2,261 per ETH. As of the latest data, the market price of Ethereum has dropped significantly below this level, triggering the substantial paper loss. To prevent forced liquidation, the trader has added 11 million USDC in additional collateral, effectively lowering the liquidation price from $1,617 to $1,506 per ETH.