Important points
- The newly created Whale Wallet deposited $7 million USDC into Hyperliquid to open short positions in Bitcoin and XRP.
- The position is currently worth more than $110 million.
Today, a newly minted whale wallet deposited $7 million in USDC to crypto derivatives platform Hyperliquid, establishing a short position in Bitcoin and XRP.
The wallet address “0x7B7b908c076B9784487180dE92E7161c2982734E” reflects the aggressive bearish positioning that major traders have adopted on the platform amidst the current market volatility.
HyperLiquid Whales has been increasing its short Bitcoin positions with high leverage in recent weeks. The platform has seen active engagement from whales as traders deposit stablecoins to open leveraged shorts in major crypto assets.
HyperLiquid’s large traders are aggressively adjusting their short positions in cryptocurrencies, including Bitcoin, with some facing large unrealized losses due to market fluctuations. The various positions in XRP indicate that whales are making both long and short bets on the digital asset.
