"Brother Huang Licheng" liquidated his HYPE long positions overnight, which had a floating loss of about 85%, resulting in a loss of approximately $56...

According to Mars Finance, on January 20th, HyperInsight monitored that the address "Huang Licheng" (0x020c…) continuously reduced its HYPE long positions for nearly 10 hours overnight and this morning, ultimately liquidating its entire position. This reduction began on the evening of the 19th, with the initial position size at $2.82 million, already showing a floating loss of 85%. The address continued to reduce its position overnight, and by the time it closed out its positions on the morning of the 20th, the cumulative reduction value was approximately $2.41 million. The remaining $1.187 million position was then liquidated, resulting in a loss of $560,000. This trader had previously profited handsomely from trading blue-chip NFTs, but since becoming active in the market in October of this year, he has experienced a series of significant drawdowns, with his account balance shrinking drastically from over $100 million.