Hyperliquid Address Hides $40 Million Ether Short Position

A Hyperliquid address has been identified holding a significant short position in Ether (ETH), with a notional value of around $40.91 million.

The position, which amounts to 15,182.44 ETH, is showing approximately $50,000 in unrealized profit at an ETH price of $2,694.50.

This means that if the address had bought Ether at its average entry price of about $2,697.79 and then sold it at this current price, they would have made a profit of roughly $3 per unit.