Prominent cryptocurrency trader AguilaTrades has suffered a complete liquidation on the Hyperliquid platform, wiping out nearly all of his capital. His losses are now approaching $40 million.
The liquidation marks a dramatic collapse for the trader, whose long Bitcoin (BTC) position succumbed to a recent market pullback triggered by escalating tariff tensions and the absence of anticipated Federal Reserve rate cuts.
From Recovery to Ruin: AguilaTrades Suffers Catastrophic Losses on Hyperliquid
BeInCrypto Markets data revealed that over the past 24 hours, the crypto market has dipped 6.9% to $3.83 trillion. 80% of the top 10 coins have recorded losses. Bitcoin has dropped 2.8%, while Ethereum (ETH) has suffered a 3.8% decline.
Amid this, those who bet on the market rising suffered massive losses, with around $630 million in liquidations recorded in the past 24 hours. Coinglass data showed that most liquidations ($570.68 million) stem from long positions.
For Bitcoin specifically, long positions worth $141.93 million were liquidated, compared to short positions worth $7.4 million.
Lookonchain, a blockchain analytics platform, revealed on X (formerly Twitter) that AguilaTrades’ long Bitcoin position was also liquidated.
“AguilaTrades has been fully liquidated, wiping out almost all of his funds on Hyperliquid,” the post read.
This was a massive blow for the trader, who recently recovered all his losses. BeInCrypto reported that AguilaTrades’ bets resulted in losses totalling $32.7 million in late June, building up to as high as $35 million by July.
However, in mid-month, the trader managed to turn around his $35 million losses. Yet, these gains were short-lived. On July 25, the trader was liquidated for 720 BTC valued at around $83.3 million.
“From being down $35 million+, then clawing back to a $3 million profit, he’s now back even deeper in the red with $36 milllion+ in losses,” Lookonchain posted.
On July 31, OnChainLens reported that AguilaTrades experienced four consecutive liquidations but later raised his BTC position slightly. Now, with the latest blow, his losses are nearing $40 million.
“Once a top CEX trader, AguilaTrader lost nearly $39 million after being wrecked on-chain. Every long and short got counter-traded. A brutal reminder: public PnL = public target,” crypto influencer, Zia ul Haque, wrote.
In addition to AguilaTrades, another high-risk trader, James Wynn, also faced a series of liquidations.
“James Wynn’s PEPE long position in another wallet also got hit with a cascade of liquidations, with total losses exceeding $1 million, and only $14,850 left in the account,” the blockchain analytics platform added.
Wynn’s losses follow his earlier win. BeInCrypto highlighted that the trader made over half a million in profit last week, his largest gain since May 25.
In contrast, some traders have capitalized on the market conditions. Lookonchain noted that a trader (0xCB92) went short on ETH with 20x leverage. The trader’s decision earned him a profit of over $3.7 million.
Thus, the disparity highlights the high-stakes nature of leveraged trading on platforms like Hyperliquid, where small price movements can lead to significant gains or catastrophic losses.
Coinbase
eToro
eToro
eToro
eToro
COCA wallet
UpHold
Moonacy
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
