A whale shorted $16M worth of Solana at $164.9.
The trade used 20x leverage on Hyperliquid with $1.21M USDC.
Liquidation price is set at $172.96 for the 97,500 SOL short.
Whale Bets Big Against Solana
A high-stakes move just rocked the crypto derivatives space. A trader deposited $1.21 million USDC into the decentralized perpetuals exchange Hyperliquid and opened a massive 20x short position on Solana (SOL) at a price of $164.9. This leveraged trade amounts to 97,500 SOL, equivalent to a whopping $16 million at entry.
The position has a liquidation price of $172.96, meaning if SOL rises above this level, the position risks being wiped out. The aggressive leverage and precise timing suggest this is no ordinary trade—it’s the kind of strategic risk that only experienced players take.
What This Means for the Market
Large leveraged positions like this can create ripple effects in the market. If Solana’s price starts to climb toward the liquidation zone, it could trigger volatility—especially in decentralized platforms like Hyperliquid, where on-chain transparency amplifies sentiment.
Shorting SOL at these levels signals the trader expects a pullback, possibly anticipating cooling momentum after Solana’s recent strength. However, the risk is high. A sudden bullish move could liquidate the position and cause further upward pressure as shorts are forced to cover.
This move also shines a light on how decentralized finance (DeFi) is enabling institutional-sized bets in a transparent, permissionless environment—something previously only seen on centralized exchanges.
Someone just deposited 1.21M $USDC into Hyperliquid and opened a 20x short on $SOL at $164.9.
The position reached 97,500 $SOL($16M)), with a liquidation price of $172.96.https://t.co/2bEi8HjzSx pic.twitter.com/gYOpQixxzU
— Lookonchain (@lookonchain) May 9, 2025
Keep an Eye on the Liquidation ZoneA trader shorted $16M worth of SOL on Hyperliquid with 20x leverage, betting on a drop from $164.9.
The critical price to watch here is $172.96. If SOL approaches or breaches this level, it could lead to sharp price movements from forced liquidations. Traders and on-chain analysts will be keeping a close watch on this address on HypurrScan to see how this bold bet plays out.
In a market as fast-paced as crypto, one trade can shift the tides. This Solana short may just be the next catalyst—or casualty.
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