ChainCatcher reported, citing Cointelegraph, that a trader deposited 16.6 million USDC into Hyperliquid and used the funds to build a leveraged long position in SPCX. According to the report, the trader’s current position is valued at 18.5 million dollars.
USDC is a widely used dollar-linked stablecoin in the crypto market, while Hyperliquid is a crypto trading platform. A leveraged long position generally refers to increasing exposure while betting on a rise in the traded asset’s price. The disclosed information covers the deposit size, the trading direction, the SPCX position, and its current value; no further details about the trader’s identity were provided in the item.
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