Whale Loses $2.91 Million in Ethena Crash on Hyperliquid

A significant cryptocurrency liquidation on the Hyperliquid exchange has wiped out a whale’s substantial investment, shedding light on the volatile nature of the Ethereum ecosystem. The event occurred on October 22, 2025, when a mysterious whale’s $2.91 million position in Ethena (ENA) was completely liquidated after the asset experienced a sharp 10% price drop in just minutes. This dramatic incident follows a broader decline of the Ethena price by 6.47% in 24 hours, further highlighting its volatility.