HYPE trader holds $111M long

• Trader “watershedpath” holds a US$111 million long position in HYPE.
• Arkham estimates the position has about US$58 million in unrealised profit.
• The trader withdrew US$18.5 million in margin while keeping the position open.

A trader known as “watershedpath” holds a US$111 million long position in Hyperliquid (CRYPTO:HYPE), according to Arkham.

Arkham says the position is the largest single HYPE long visible onchain and has been open for almost one year.

“Trader ‘watershedpath’ has been long $HYPE for almost a whole YEAR,” Arkham said in a 26 August post.

The position shows about US$58 million in unrealised profit, while the trader has withdrawn US$18.5 million in margin.

The withdrawal leaves less margin supporting the position, which could increase liquidation risk if HYPE falls sharply.

HYPE rose more than 46% over the past month and 16% over seven days, reaching US$82.06 when the article was published.

The trader’s entry price and liquidation level were not disclosed, so the position’s future outcome remains uncertain.

At the time of reporting, Hyperliquid price was $81.08.