Whale's 10x leverage short on PEPE gets liquidated, unrealized profit drops from 24.8 million to 3.4 million

【Chain News】An interesting on-chain data point has just surfaced. A major whale account recently used 10x leverage when shorting PEPE and HYPE, resulting in partial liquidation during this market rally — a classic case of margin shortfall.

Now let’s take a look at this whale’s true holdings. It holds the most BTC, with 1,609.89 coins worth approximately $145 million. ETH is a close second, with 31,732.34 coins valued at $95.78 million. PEPE and HYPE were the main focus of its previous short positions, accumulating 2.55 billion coins (about $13.22 million) and 594,000 coins (about $1.29 million), respectively. There are also 527 XMR sitting in the wallet, worth $270,000.

The most heartbreaking data is the unrealized profit — the account once had an unrealized gain of $24.8 million at its peak, but within just a few trading days, it dropped to only $3.4 million. This is the double-edged sword of leverage trading: once the direction bets go wrong, the account can shrink much faster than expected.