A major investor in the cryptocurrency market created a new wallet to initiate a short position on the TRUMP token on the HyperLiquid platform, depositing 1.33 million USDC.
According to data shared by the cryptocurrency analysis platform Lookonchain, an unidentified whale made a significant move to short Donald Trump’s official meme coin, TRUMP. The investor specifically created a new wallet for this transaction and transferred 1.33 million USDC to the derivative platform HyperLiquid.
According to the data, the entry price at which the investor has initiated a short position on the TRUMP token is set at 14.787 dollars. However, the liquidation price of the position, i.e., the level at which the investor could lose all their collateral, is set at 21.538 dollars. This figure indicates a level approximately 40% higher than the current price.
This large short position was opened despite the recent upward trend of the TRUMP token. According to CoinGecko data, TRUMP, currently trading at 15.41 dollars, has gained 3.7% in the last 24 hours and 84.4% in the past week. In its short history, the token reached its all-time high of 73.43 dollars on January 19, 2025.
With a market capitalization of 3.06 billion dollars, TRUMP ranks as the 44th largest asset in the cryptocurrency market, standing out as a highly liquid token with a daily trading volume of 1.54 billion dollars.