- Massive ETH liquidation triggers $166M outflow, shaking investor confidence in HYPE.
- HLP Vault absorbs $4M loss as forced liquidation disrupts market stability.
- HYPE enters the key support zone, sparking debate on recovery potential.
Disaster struck the Hyperliquid platform when a massive $340 million ETH long position was liquidated, sending its native cryptocurrency, HYPE, crashing. The huge liquidation triggered a wave of investor withdrawals and a sharp drop in AUM (assets under management).
Consequently, Hyperliquid recorded a net outflow of $166 million on March 12, marking the second-largest single-day withdrawal in its history. Adding to the pain, the platform’s HLP Vault suffered a $4 million loss, intensifying selling pressure on HYPE, which plummeted by 6.71% to $12.50.
How a $340 Million Longs Unraveled
A high-levera…
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