Hyperliquid Whale 'Evaded' Opens $38.6M 25x ETH Long After $7.5M ZEC-HYPE Gains

A Hyperliquid whale known as 'Evaded' has opened a $38.63 million, 25x leveraged long on Ethereum, deploying 18,100 ETH at an average entry of $2,133.19. The trader first realized roughly $7.5 million in gains over four days from successful ZEC and HYPE leveraged longs. ZEC rallied more than 30% after the SEC closed its probe, while HYPE reached an all-time high near $63 following a Bitwise ETF filing. The ETH position faces liquidation on roughly a 4% adverse move, raising short-term volatility risks across crypto markets if cascading liquidations occur.