New whale wallet deposits $7M into Hyperliquid for $BTC, $XRP short positions
Key Takeaways
- A newly created whale wallet deposited $7 million USDC into Hyperliquid to open short positions on Bitcoin and XRP.
- The positions are now worth over $110 million.
A newly created whale wallet deposited $7 million in USDC into Hyperliquid, a crypto derivatives platform, today to establish short positions on Bitcoin and XRP.
The wallet address “0x7B7b908c076B9784487180dE92E7161c2982734E” reflects the aggressive bearish positioning that large traders have adopted on the platform amid current market volatility.
Whales on Hyperliquid have been increasing short positions on Bitcoin with high leverage in recent weeks. The platform has seen active whale involvement as traders deposit stablecoins to open leveraged shorts on major crypto assets.
Large traders on Hyperliquid are actively adjusting short positions on cryptocurrencies including Bitcoin, with some facing significant unrealized losses due to market movements. The mixed positioning on XRP shows whales taking both long and short bets on the digital asset.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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