The Oil Bet Is Over --- And It Was a Costly One 😬🛢️. Just 33 hours after opening one of the largest commodity positions on Hyperliquid, wallet 0x2558 has officially thrown in the towel.
The whale has now closed his entire 500,000 $CL long position, which was worth roughly $36.85 million, locking in a loss of approximately $2.9 million. When the trade was opened, the wallet deposited $4.24M USDC and used 10x leverage to build a massive bullish position on crude oil. The bet quickly went the wrong way. As oil prices continued to slide, the position sank deeper into the red, at one point showing losses exceeding $2 million and moving dangerously close to liquidation. Rather than risk being forcibly closed by the market, the whale chose to exit manually. Final Result: Position Closed: 500,000 #CL , Realized Loss: ~$2.9M, Holding Period: Just 33 hours . What started as a high-conviction $39 million bet on rising oil prices ended in a multi-million-dollar loss less than two days later. Address: 0x2558c4029dc7a04f13b3803cdf284aff8208ba9c
The Oil Bet Is Over --- And It Was a Costly One 😬🛢️. Just 33 hours after opening one of the largest commodity positions on Hyperliquid, wallet 0x2558 has officially thrown in the towel.
The whale has now closed his entire 500,000 $CL long position, which was worth roughly $36.85 million, locking in a loss of approximately $2.9 million.
When the trade was opened, the wallet deposited $4.24M USDC and used 10x leverage to build a massive bullish position on crude oil.
The bet quickly went the wrong way. As oil prices continued to slide, the position sank deeper into the red, at one point showing losses exceeding $2 million and moving dangerously close to liquidation.
Rather than risk being forcibly closed by the market, the whale chose to exit manually.
Final Result: Position Closed: 500,000 #CL , Realized Loss: ~$2.9M, Holding Period: Just 33 hours .
What started as a high-conviction $39 million bet on rising oil prices ended in a multi-million-dollar loss less than two days later.
Address: 0x2558c4029dc7a04f13b3803cdf284aff8208ba9c