Just caught something wild on Hyperliquid - this whale account linked to celebrity investor Jeffrey Huang has gone from sitting on $44M in profits to facing an $8.7M unrealized loss on his XPL long position (5x leverage). Dude's been holding through brutal drawdowns, burning over $115K in funding fees alone. His net worth as an investor is clearly substantial, but even that can't cushion a hit like this. He's still running a separate 15x ETH position that's up about $534K, so his overall portfolio is still in the green by $11.6M, but yeah - this XPL trade is getting hammered.

What's interesting is other whales seem to think XPL recovers. Whale wallets accumulated over $1.16M in net XPL this past week, and one major wallet just dropped $31M buying the dip on Hyperliquid. But here's the problem - there's a $90M token unlock scheduled for October 25th. That's massive selling pressure coming, and if it hits, positions like Huang's could get liquidated real quick.

This whole thing reminds me why leverage on tokens with upcoming unlocks is basically playing with fire. Even big players with serious capital can get caught off guard.