Hyperliquid Crypto Whale Bets $70.3 Million on Ethereum Long Amid Market Slump Hassan Shittu | usagoldmines.com

As Ethereum reels from one of its most volatile weeks this year, a high-stakes Hyperliquid Whale known only by his oversized position has reignited again.

The anonymous whale, long believed to be operating on the decentralized perpetual exchange Hyperliquid, has returned with a massive $70.3 million long position on ETH, placed with 20x leverage.

The bet comes at a time when most whales are doing the opposite, scrambling to salvage their positions or watching them dissolve into nothing.

The first alert came from crypto influencer Ash Crypto, who posted that the “Hyperliquid 50x whale is back” after opening a $47 million ETH long.

Within hours, the trader had boosted the position to $70.3 million, locking in over $1.37 million in unrealized profits despite the broader market’s collapse.

What makes this move so intriguing is its timing. Ethereum had just suffered a brutal 14% drop, falling to $1,547, a seven-month low that triggered billions in liquidations across DeFi and centralized platforms.

$106 Million ETH Liquidated, Thousands of Positions Wiped Out

The whale’s bold move contrasts starkly with the wave of destruction that swept through the Ethereum DeFi ecosystem on April 6.

One of the most devastating hits came on Sky, formerly known as MakerDAO, where a single Ether whale lost 67,570 ETH, equivalent to roughly $106 million.

The liquidation was triggered after ETH’s price nosedived, dragging the whale’s collateral ratio below Sky’s mandatory 150% threshold.

As the collateralization dipped to 144%, the protocol’s smart contracts automatically kicked in, seizing and auctioning off the collateral to cover the debt.

The fall of ETH to $1,547 set off a cascade of auto-liquidations, marking one of the most high-profile collapses in DeFi lending history.

And it wasn’t an isolated incident. Another large investor narrowly avoided the same fate, injecting emergency funds into a vault containing 56,995 wETH, about $91 million worth, to avoid being liquidated.

Yet another whale holding 220,000 ETH, roughly $340 million, was on the brink of ruin until depositing 10,000 ETH and 3.54 million DAI to raise their liquidation threshold.

The scale of the damage was historic, with over $1 billion liquidated over the weekend alone.

The Return of the HyperLiquid Whale: Profit-Driven Genius or Fraud-Fueled Gambler?

This isn’t the first time the HyperLiquid Whale has shocked the crypto world.

According to ZachXBT’s discovery in March, the man behind the massive trades is William Parker, a convicted fraudster with a past riddled with deception and high-stakes gambling.

Parker, previously known as Alistair Packover, reportedly made over $20 million in profits by placing huge bets on Hyperliquid and other platforms using 40x and 50x leverage.

But the story gets darker. ZachXBT’s investigation revealed that Parker placed his trades using funds obtained from phishing schemes and casino exploits.

In one instance, Parker made $10 million by opening a 50x ETH long just before Donald Trump’s major crypto policy speech.

Another bet, a 40x BTC short, netted him $9 million. These weren’t merely well-timed trades; they were gambles backed by stolen capital.

The scope of Parker’s fraudulent activity is staggering. Last year, he was sentenced in Finland after stealing $1 million from two casinos by exploiting software vulnerabilities.

He then laundered the stolen funds through platforms like Binance, Gamdom, and Roobet before wagering them on Hyperliquid.

Wallet traces linked his trading accounts to multiple phishing scams, and he maintained ties with shady actors across the crypto ecosystem.

His online alias, @qwatio, had been dormant for years before resurfacing to promote his newfound trading fame, perhaps in an attempt to reshape his image.

But behind the scenes, Parker continued to interact with phishing ring members and move stolen funds through decentralized protocols.

Why This Long Position Matters Now

The Hyperliquid Whale’s re-entry into the market coincides with a time of extreme macroeconomic uncertainty.

On April 2, President Donald Trump announced a sweeping tariff regime, slapping a 25% import duty on foreign vehicles and a flat 10% tariff on all imported goods.

The move, seen as a warning shot in a looming trade war, triggered a meltdown in global markets.

The S&P 500 suffered its worst two-day drop in history, shedding $5 trillion in value. Bitcoin slid below $75,000, and altcoins like Solana, XRP, and Dogecoin posted losses exceeding 20%. XRP breached its 200-day moving average, SOL sank beneath $100, and DOGE fell to $0.13.

Liquidity drained rapidly as traders sought refuge in traditional safe havens like gold and the Japanese yen.

Still, with Ethereum now hovering around $1,515 and Tether’s market cap closing in, ETH’s position as the second-largest crypto asset is under direct threat.

The Hyperliquid whale’s leveraged bet is more than just a risky move; it’s a statement.
In a market paralyzed by fear, where even billionaires are urging caution, he’s doubling down. Whether this gamble pays off or ends in ruin remains to be seen.

The post Hyperliquid Crypto Whale Bets $70.3 Million on Ethereum Long Amid Market Slump appeared first on Cryptonews.

This articles is written by : Nermeen Nabil Khear Abdelmalak

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