Blockchain tracking account Lookonchain said a wallet created a new address, deposited 5 million USDC into Hyperliquid, and then opened a 20x short position. The trade involved 8,155 ETH, valued at about $20.33 million, and 247.6 BTC, valued at about $19.49 million. The update points to a large leveraged bearish bet placed through the derivatives platform, with both Ether and Bitcoin included in the position sizing disclosed by Lookonchain. No additional identity details for the address were provided in the source post.
According to Lookonchain, an address created a new wallet, deposited 5 million USDC into Hyperliquid, and then opened a 20x short position.
The position involved 8,155 ETH, worth about $20.33 million, and 247.6 BTC, worth about $19.49 million.
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