A crypto trader known as "ETH 50x Big Guy" took a $31 million position in Chainlink.

From Cointelegraph

March 14, 2025 5:45 PM:

An anonymous crypto trader, known as “ETH 50x Big Guy,” took a $31 million position in Chainlink (LINK) with 10x leverage on March 14. This comes after making massive gains and causing a $4 million loss on Hyperliquid’s liquidity pool earlier. The trader has earned nearly $17 million in the past month.

Hyperliquid faced challenges after the trader liquidated a $200 million ETH long position, resulting in a $4 million loss for the platform. Despite the incident, the trader made profits of approximately $1.8 million and has earned almost $17 million in the past month. Hyperliquid updated its collateral rules to prevent similar cases in the future.

Chainlink’s native token, LINK, surged by over 150% after the US election but has since dropped from highs of nearly $30 to less than $14 as of March 14. The token’s market capitalization currently stands at around $8.7 billion. Hyperliquid’s flagship perpetuals exchange has gained 70% of the market share, surpassing competitors like GMX and dYdX.

Read more at Cointelegraph: Hyperliquid’s mystery 50x ETH whale is now betting on LINK