On May 11, Onchain Lens reported that a crypto whale deposited another $12 million USDC into their HyperLiquid account, after adding $2 million the day before. The total deposit now stands at $29 million. The funds are being used to increase short positions on Ethereum (ETH), Solana (SOL), and Bitcoin (BTC) with 3x leverage.

As of now, the total value of the whale's short positions has exceeded $68.9 million, with an unrealized loss of $3.32 million. The related wallet address is: 0xb83de012dba672c76a7dbbbf3e459cb59d7d6e36.

This activity comes amid heightened market volatility following Bitcoin’s surge above $105,000, raising liquidation risks for leveraged short positions.