Galaxy Digital (address: 0xcaC1...) has deposited a significant $120 million USDC into the decentralized futures exchange HyperLiquid (HYPE) in the last 48 hours. This move, tracked by Lookonchain, indicates a strategic deployment of capital into the burgeoning DeFi platform. The firm has actively used the deposited USDC to purchase various cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), HyperLiquid's native token (HYPE), and more speculative assets like PUMP and FARTCOIN. This diversified portfolio suggests a calculated risk appetite. However, Galaxy Digital isn't just going long. To mitigate potential losses, the address has also opened short positions on BTC, ETH, DOGE, PUMP, FARTCOIN, and S. This hedging strategy aims to protect against downside risks in these volatile assets, demonstrating a sophisticated approach to managing their cryptocurrency exposure within the HyperLiquid ecosystem. The reasons for choosing HyperLiquid are still unclear, but the deposit shows growing institutional interest in decentralized exchanges. ```

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