Long 24,500 ETH, unrealized loss of $3.5 million (approximately 4.697 billion KRW)

A wallet identified as fiyopi holds a 24,500 ETH long position on Hyperliquid with an unrealized loss of $3.5 million, according to on-chain analyst Ember as cited by Odaily. The position was opened over the past two days at an average entry price of $2,207.5 per ETH. The loss is mark-to-market and not yet realized, since the position remains open. The size reflects leveraged derivative exposure rather than spot holdings of the same token quantity. Traders will watch whether the wallet adds margin, scales down, or closes the position, and how ETH price action around the entry level affects the unrealized loss.