Odaily Planet Daily News According to on-chain analyst Ai Yi's analysis, after the launch of the PUMP contract on Hyperliquid, most whales are playing with 'millions in margin + 1x leverage'. In reality, they are likely aiming for public offering arbitrage on the 12th, or trying to make some quick profits. Currently, three whales have cumulatively deposited 11 million USDC in margin, yet only opened a short position of 2.394 million USD. Due to the lack of a marked price, HYPE is currently in a state that is easy to manipulate. If the price is pulled to 0.015 USD at 11:30 this morning, then with insufficient margin at 1x leverage, it will also be forcibly liquidated. Among them, the address '0xAc7...D53ce' is the most aggressive, opening a 2x short position with a margin of 4 million USDC, holding a position of 1.074 million USD, with an opening price of 0.00504 USD and a closing price of 0.02138 USD.