Anonymous wallet shorts $100M ETH at 23x on Hyperliquid

Wallet 0x50b3 opened a 23x leveraged short on 47,604 ether, creating $100.33 million in notional exposure on the Hyperliquid derivatives platform. The position shows an implied entry price of about $2,109 per ETH and a liquidation price set at $2,149.84, roughly $41 higher.

At 23x leverage the trader’s initial margin covers about 4.3% of the position. If ether rises to the liquidation price before additional margin is added or the position is reduced, the platform will automatically close the trade.

Hyperliquid settles trades on-chain and has recorded more than $176 billion in 30-day trading volume, open interest above $8 billion in late May and reported revenue exceeding $896 million over the past 12 months. Traders have used the platform for large positions that settle on the blockchain.

On-chain records show the same wallet recently took multiple large positions, including profitable exits on ZEC and HYPE longs and a separate $38.6 million ETH long at 25x leverage. The owner of wallet 0x50b3 has not been publicly identified.

Ether traded in a roughly $2,050 to $2,150 range through May, keeping the short close to its liquidation level. If the position is liquidated automatically, 47,604 ETH would be returned to available market supply in a single event, subject to how counterparties and automated systems execute the closure.

Observers tracking on-chain flows note that large, highly leveraged trades can create localized volatility around key price levels, particularly when margin buffers are narrow. Hyperliquid and the wallet owner have not issued public statements about the position.