PANews reported on September 2nd that according to monitoring by on-chain analyst Yu Jin, the "whale who opened long ETH after selling HYPE" had just increased his ETH long position back to 78,500 coins after reducing his position due to stop-loss during the last decline. As a result, a wave of ETH declines this morning caused his position to be stopped out by another 41,900 coins (US$177 million).

After multiple stop-loss orders, the whale lost $31 million in nine days. Now his ETH long position is reduced to only $157 million (36,500 ETH), with a liquidation price of $4,099.