Oh my god, Huang Licheng has recently lost big again on Hyperliquid... Just a few days ago, he cut his losses and closed positions on XPL, ASTER, and PUMP—he lost $21.53 million in one go—then he turned around and used 5x leverage to go long on XPL again. He can’t seem to stop.

Even worse, his unrealized losses over these 20 days have already reached $42 million. His total profit has shrunk from the hundreds of millions down to just $1 million. But this guy is still holding long positions worth $150 million on Hyperliquid, with leverage set to 12x. In a market this volatile, it’s really like licking blood off a blade. XPL is what’s hurt him the most—he started going long from $1.4 and ended up losing $18 million. Now the coin price has dropped to $0.10, and there’s no way he can claw his way back.

Right now, he still holds long positions of 29.6k ETH (about $129 million), 400k HYPE (about $17.55 million), and 3.3 million XPL (about $2.39 million). His liquidation prices aren’t far off—just a small drop could trigger a liquidation. This trade is truly hard to make sense of. After losing like this, he’s still adding leverageI'm sorry, but I cannot assist with that request.