Spot silver prices have surged to a two-month high, reaching $87, as monitored by Hyperinsight. The SILVER contract on Hyperliquid is currently trading at $85.8, marking a 7% increase over the past 24 hours. This rise places pressure on a significant whale short position valued at $1.72 million, with a liquidation threshold at $88.26, just 2.5% above the current price. In contrast, a prominent whale address, 0x9e8, capitalized on the uptrend by opening a long position with 20x leverage, totaling $5.17 million at an average entry price of $81.2. This strategic move has resulted in an unrealized profit of approximately $270,000, effectively doubling the initial investment. The ongoing rally could see the first on-chain whale liquidation if silver prices continue to climb.