According to on-chain analyst @ai_9684xtpa, a trader on the Hyperliquid platform used 6 million USDC principal to open a long position worth more than $200 million with 50 times leverage. The position consists of 49,384 ETH (opening at $2,196 and clearing at $2,133.9) and 1,260 BTC (opening at $85,671 and clearing at $84,629). The trader is currently losing $507,000, and if the market falls by 2.8%, a liquidation mechanism will be triggered.