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Reading: Hyperliquid trader earns $84M shorting Ethereum with high leverage
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Your Crypto News Today > News > Crypto > Ethereum > Hyperliquid trader earns $84M shorting Ethereum with high leverage
Ethereum

Hyperliquid trader earns $84M shorting Ethereum with high leverage

January 31, 2026 1 Min Read
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image

A dealer often called “ETHMegaBear” has earned roughly $84 million in whole unrealized income by shorting Ethereum on Hyperliquid, a decentralized perpetual futures alternate, in keeping with information tracked by Lookonchain.

The #ETHMegaBear(0x20c2) has racked up over $80.9M in income by shorting $ETH — completely insane!

This dealer has been shorting $ETH on #Hyperliquid since 2024, constantly utilizing max leverage (beforehand 50x, now 25x).

He presently holds a 30,582 $ETH($88.9M) quick.… pic.twitter.com/wgL2Ba6bHO

— Lookonchain (@lookonchain) January 29, 2026

ETHMegaBear has been shorting $ETH on Hyperliquid since 2024, constantly utilizing most leverage. The dealer presently holds a brief place of 30,582 $ETH valued at roughly $86 million.

ETHMegaBear’s unrealized income on his Ethereum quick grew immediately as $ETH offered off throughout a broader market downturn. The second-largest crypto asset fell from above $2,900 to round $2,800, whereas Bitcoin dropped under $85,000 for the primary time since final December, per CoinGecko.

The fast downturn worn out roughly $360 million in leveraged positions in only one hour. Conventional markets have been additionally hit, with equities, tech shares, and gold all experiencing turbulence.

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