A previously inactive address on Hyperliquid has reactivated, opening a significant long position on Ethereum. The address, dormant for four months, received approximately $1.1 million in new funds before initiating a highly leveraged long position on 12,902 ETH at 40x leverage, totaling around $25.8 million. Currently, the position is experiencing a floating loss of $130,000, or 12.8%, with an average entry price of $2,011 and a liquidation price of $1,966. The market price is now less than $40 from the liquidation threshold, marking this as the closest-to-liquidation position among ETH whales with holdings exceeding $10 million.