Chip stocks crashed. One Hyperliquid whale was liquidated twice on a 3x chip ETF in a day — then bought a third time
The Philadelphia Semiconductor Index closed down 6.7% on Thursday, Oct 22, its lowest level since July 29, with all 30 members lower, according to Capp Notes. The Nasdaq fell 2.6%. Reuters reported that investors were punishing Meta and other tech favorites for the rising bill of the AI build-out.
On Hyperliquid the damage concentrated in one place: SOXL, the perpetual on Direxion's 3x leveraged semiconductor ETF. It fell 18.2%, from 97.80 to 80.66, and longs lost $18.4M to liquidations — the most of any stock perpetual, and second only to Bitcoin across all of Hyperliquid.
Liquidated at 14:46. Liquidated again at 19:37. Long again.
Wallet 0xab02…7fbb bought SOXL the whole way down, from about 98 at 01:00 UTC to 90 by 13:00.
- 14:46 UTC: liquidated, $5.4M at an average of 86.20.
- Within the hour it bought back in and kept adding at 85 and 84.
- 19:37 UTC: liquidated again, $4.7M at 80.96.
- Then it bought $2.2M more at 81.33.
Realized loss on SOXL for the day: about $582K. It is still long $2.29M at 10x, now up $73K at 83.99, with liquidation at 77.07, 8% below. The account holds about $294K.
Wallet 0x053f…a4d3 added $2.0M of SOXL at 90 around the Nasdaq open and was liquidated in the same minute as 0xab02, at 14:46: $4.7M at about 86, a $294K loss. It still holds $12.3M in USDC and has not come back.
The Meta whale is now short Apple at 20x
Meta's perpetual fell 9.4% and longs lost $5.7M. The biggest was 0x795c…a242: at 13:42 UTC, twelve minutes after the open, its Meta long was liquidated for $3.5M at 648, and $1.4M of its Apple short went with it. It sold the remaining $14.1M of Meta at about 651. Total realized loss on Meta: about $2.3M.
What it holds now: an Apple short of $12.6M at 20x, entry 342.81. Apple's perpetual rose on the day while the rest of tech fell, and is at 347.54 — 1.5% below this short's liquidation at 352.63.
On the other side, 0x1367…560e bought $9.4M of Meta into the drop. It now holds $18.8M at 20x, entry 682.36, down $1.03M, liquidation 551.07.
SOXL · META · AAPL whale positions and liquidations on Hyperliquid
Data: Hyperliquid on-chain fills, liquidations and positions, compiled by CryptoAnimon. Positions and prices as of about 02:00 UTC, Oct 23. Realized PnL from fills, before fees.
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