Hyperliquid Closes Massive Ether Short Worth Over $20 Million

A Hyperliquid address has closed an Ether (ETH) short position, covering 7,456.49 ETH at an average price of $2,705.17. This move resulted in a total value of approximately $20.17 million being removed from the short position. The remaining short position still held by the address is valued at around $8.54 million, with an unrealized loss of about $1,200 when ETH was listed at $2,706.45.

The closed position had a significant impact on the Hyperliquid account's overall exposure to Ether, and it will be interesting to see how this move affects their future trading strategies. The retained short position still poses some risk for the address, as the current market price of ETH is higher than the average entry price of the remaining short.