Large Hyperliquid whale reduces ETH short position of $12 million

A large trader on Hyperliquid with an impressive lifetime profit of $34.7 million appears to be reducing his massive short position on Ethereum. The account, known as 5bro.eth, is depositing $1.5 million in USDC and placing a limit order to buy 2,000 ETH for roughly $3.73 million. If the order is filled, the short position will shrink from 6,500 ETH to 4,500 ETH.

At the time of writing, Ethereum is trading at $1.865,59, up 1.2% over the past 24 hours.

Ethereum is available at OKX and Bybit.

Whale with $34.7 million profit adjusts strategy

The address 0x418aa6bf98a2b2bc93779f810330d88cde488888, active on Hyperliquid, shows an all-time combined PnL of $34.686.782. The trader currently has three open positions: a short of 6,500 ETH worth $12.1 million, a short of 152.5 Bitcoin worth $9.9 million, and a short of 1,900 BNB worth about $1.1 million.

The ETH position is currently showing a profit of $757.185 (+146.82%), while the Bitcoin short is in the red with a negative PnL of $142.526 (58.64%). The BNB short is positive at $193.773 (+76.07%). The limit order for 2,000 ETH long is set at a price of $1.866,50, almost exactly the current market price.

Recent deposit and withdrawals visible in transfer history

The account’s transfer history shows that on 19 July at 10:02, the whale sent $1.499.999,80 in USDC to his own address. This is not the first major move: earlier in April, May and June, several withdrawals of around $1 million each took place, plus an initial deposit of $2 million in April.

It is striking that despite a profitable ETH short, the trader is now opting for a partial reduction. The recent rally in Ethereum may be playing a role. On Hyperliquid, large whale movements are often tracked by the market, making such positions attract extra attention.