On May 11, according to on-chain data, a whale continued to add 12 million USDC to its account on the HyperLiquid platform, after adding 2 million USDC the day before. The total amount this wallet address has deposited is now 29 million USD. This money is being used to expand 3x leveraged short positions on three major currencies: Ethereum (ETH), Solana (SOL), and Bitcoin (BTC).
As of now, the total value of this whale's short positions has exceeded 68.9 million USD. However, due to market price fluctuations, this trader's position is experiencing a temporary loss of up to 3.09 million USD. But this trader still has a profit of 2.15 million USD since trading on Hyperliquid.
This move comes amid a highly volatile market following Bitcoin's rise above 105,000 USD, leading to increasingly high liquidation risks for short positions.
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