The trader, referred to as ‘ETH 50x Big Guy’, has assumed a new long position in LINK valued at approximately 31 million USD, using 10 times leverage. This move follows a significant loss incurred during a past trade.

In response to the recent losses, Hyperliquid is revising its margin requirements to mitigate risk in future trades. Currently, Chainlink’s LINK token holds a market capitalization of around 8.7 billion USD.