「Crypto Buddy Huang Lizheng」 pulled an all-nighter to liquidate approximately 85% of his HYPE long positions, realizing a loss of around $560,000

BlockBeats News, January 20th, according to HyperInsight monitoring, last night and this morning, the address associated with "Huang Licheng" (0x020c…) continuously reduced its HYPE long position for nearly 10 hours and eventually exited the position.

The reduction started on the night of the 19th. The initial position size was $2.82 million, with a floating loss of up to 85%. Subsequently, the address continued to scale out during the night, and by the end of the morning of the 20th, the accumulated reduction in position was worth approximately $2.41 million. The trader then closed out the remaining $1.187 million position, concluding this round of operations with a $560,000 loss.

The trader had made a fortune in the early years trading blue-chip NFTs. However, since being active in the market from October this year, they have encountered successive significant pullbacks, leading to a drastic reduction in the account funds from over one billion dollars.