On the Hyperliquid chain, there is a "legendary liquidation king" whale whose story epitomizes the extreme obsession and madness of the crypto market.

Address: 0x020c...5872

Accumulated losses of 35.32 million USD, return on investment -27,300%, maximum drawdown -99.96%, 449 deposits—these numbers would be enough for any normal trader to completely exit the market. But this whale is different; he deposits, opens positions, gets liquidated again and again, and then deposits and opens positions once more. The only asset he trades is: ETH.

A set of astonishing data

From the profit and loss curve, this whale once brought his account close to a peak of 50 million USD in mid-2025, followed by a brutal collapse, nearly bringing the account to zero. But he did not give up—449 deposit records mean he deposits money into his account on average every two to three days, just to continue going long on ETH.

Current position: Starting over for the Nth time

At this moment, he is again going long on ETH with 25x leverage, holding 1855 ETH, worth 3.09 million USD. The opening average price is $1,677.72, with an unrealized loss of $21,900, and the liquidation price is $1,632—only about 2% space left from the current price.

The margin usage rate has reached 100.31%, which means there is no buffer left in his account; if ETH falls another $33, this position will be liquidated again.

5 liquidations, starting over 5 times

From the trading records, this whale recently experienced 5 forced liquidations of long positions, each resulting in substantial losses:

On June 23 alone, the total loss from 5 liquidations exceeded 110,000 USD. However, surprisingly, after each liquidation, he almost immediately opened new positions within minutes to hours. After being liquidated at 16:24, he added 500 ETH later that night; by the early hours of June 24, he continued to pile in 35, 50, 45, 75, 440, and 90 ETH, rebuilding his position to 1855 ETH.

This is not trading, it is faith.

Why is this whale worth paying attention to?

The existence of this "legendary liquidation king" holds high reference value for other traders:

First, he is an extreme sentiment indicator for ETH. When a person willing to lose 35 million USD still insists on going long is still in the market, it indicates extremely strong bullish strength. His liquidation price ($1,632) is also an important liquidity reference point.

Second, his liquidation is your opportunity. Under the transparent mechanism of Hyperliquid's chain, you can clearly see: around $1,632, there is 3.09 million USD worth of long liquidation liquidity. When the price approaches this position, a "liquidation waterfall" effect often occurs, which is a perfect timing for precise bottom fishing or short selling.

Third, he proves the fairness of on-chain trading. In CEXes, such giants can be "precision bombed" by exchanges without anyone knowing. But on Hyperliquid, everything is open and transparent—every deposit, every position opening, every liquidation is completely recorded on-chain, and anyone can track and analyze it.

Track the "legendary liquidation king" with AiCoin

Want to monitor the next fate turning point of this die-hard ETH fan in real-time? The AiCoin mobile app fully supports Hyperliquid chain data:

- Liquidation alerts: Receive immediate notifications when his margin rate approaches critical levels and pre-position for liquidation trends.
- Deposit monitoring: Track his 449 deposit patterns to determine when he will "start over."
- One-click copy/contrarian: After seeing his position opening direction, autonomously decide whether to follow his faith or adopt rational hedging.
- Rapid order placement: API Key locally encrypted for millisecond-level response, enabling precise entry at the moment of liquidation waterfall.

In the on-chain world, information is money. Someone else's liquidation could be your profit.

See the on-chain hidden cards: Use the AiCoin mobile app for a dimensional strike

The sharp contrast between these two whales once again proves the immense value of Hyperliquid's fully on-chain transparent mechanism.

In traditional CEXes, you cannot know who is going long, nor can you identify their hidden cards (liquidation prices). But on Hyperliquid, the "profit king"'s hedging strategy and the "knife dancer"'s liquidation points are all clearly presented before us.

When you clearly know that there is 70 million USD in long positions facing liquidation around $61,725, your trading strategy will change qualitatively. This "god's perspective" is the core weapon that professional quantitative institutions use to stabilize profits on-chain.

Now, you can also have this weapon on your mobile.

The AiCoin mobile app has officially supported Hyperliquid trading, becoming one of the few perfect mobile solutions compatible with Hyperliquid.

As the most professional crypto asset data and trading platform on the market, AiCoin brings the smooth experience of top CEXes to the decentralized world:

1. One-click secure authorization: API Key secrets are encrypted multiple times and stored locally, without any network transmission, ensuring absolute asset safety. Convenient import of main wallet/Vault addresses and private keys is supported.
2. Professional-level market depth: Provides real-time order books with millisecond-level refresh rates, offering clear bid and ask data, helping you precisely find order placement points during volatile markets.
3. High-speed ordering experience: Options for market, counter price, queue price at your discretion, flexibly adjusting leverage multiples, one-click slippage placement.
4. All-asset command center: Within the same app, you can simultaneously manage spot trading on centralized exchanges like Binance and OKX, as well as on-chain derivatives on Hyperliquid, achieving true "one-stop" monitoring.

While whales are stirring up waves on Hyperliquid, are you still troubled by a poor web experience?

Do not let tools limit your trading intuition. Open the AiCoin App, link your Hyperliquid account, and follow "smart money" anywhere, anytime, to start your comeback.

💡 Newbie benefits: Register on AiCoin and use the invitation code AICOIN88 to receive an exclusive rebate of 4% on Hyperliquid trading fees.

 https://app.hyperliquid.xyz/join/AICOIN88

📖 Newbie tutorial:

- "AiCoin PC Hyperliquid Authorization Trading Tutorial":

https://www.aicoin.com/zh-Hans/article/514197

- "Zero-based Entry! Super Detailed Illustrated Guide for First-time Trading on Hyperliquid":

https://www.aicoin.com/zh-Hans/article/510225

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