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With massive on chain perp scale, visible leverage can turn big positions into crowd magnets and liquidation targets.
A single wallet roundtripped $142.5 million in unrealized profit on Hyperliquid, peaking on Jan. 13 before collapsing to a negative $8.76 million loss as of Jan. 29.
Meanwhile, all of this was visible in real time through public dashboards. The trader built a reputation during October…
