Huang Licheng’s $93M 25x ETH Long Liquidation @ $4,697
Huang Licheng, also known as “Brother Ma Ji,” opened a leveraged 25x ETH long position on Ethereum venue Hyperliquid. The trader took exposure on 15,600 ETH, amounting to about $60 million, and a 40x BTC long on 175 BTC, for a total leveraged position of $93 million. The ETH long carries a liquidation price at $4,696.96, while the BTC long will liquidate at $113,714.40. On-chain analysis shows high margin use and concentrated risk in these derivatives. This ETH long on Ethereum highlights growing demand for leverage. Traders should note the aggressive ETH long and potential impact on market volatility. Monitor Ethereum prices closely to gauge liquidation triggers.
Neutral
While trader Huang Licheng’s aggressive 25x ETH long position reflects strong bullish conviction in Ethereum, the high leverage and concentrated risk amplify potential market volatility. Similar large-scale leveraged longs in past cycles, such as in early 2021, initially spurred price rallies but later triggered liquidation cascades when ETH prices dipped. In the short term, the position may exert upward pressure if prices hold above the $4,697 threshold. However, any rapid reversal could lead to forced sell-offs and amplified swings. Over the long term, the impact is likely neutral as market forces rebalance after leverage-induced volatility subsides.