Taiwanese music celebrity and digital asset investor Jeffrey Huang faces a $9 million loss on his Hyperliquid account. Huang’s leveraged long position on Plasma token dropped from $44 million profit to $8.7 million loss, costing $115,000 in fees. Despite this, he still holds a 15x leveraged ETH long worth $1.2 million.

Huang’s account saw a $44 million profit just 13 days ago, now he holds $11.6 million in profit and loss. This loss comes after exiting a $25 million Hyperliquid position with a $4.45 million loss. Other whales are betting on Plasma token’s recovery, with a whale acquiring $31 million worth of XPL tokens on Hyperliquid.

Whale wallets are increasing XPL holdings by over $1.16 million, while $3.83 million worth of tokens left exchanges in the past week. Plasma’s vesting schedule will unlock $90 million worth of XPL tokens on Oct. 25, causing potential selling pressure. The whale wallet “0xd80D” now holds over $40.2 million worth of XPL tokens.

Read more at Cointelegraph: Machi Big Brother’s $44M Profit Turns To $9M Loss On Hyperliquid