- If the value of $TRUMP goes up to $12.49, Ogle’s $1M short will prompt liquidation, and trades are around $13.20-$13.49.
- Its large size and significance have caught the attention of many, which may increase the risks associated with the $TRUMP token.
An expert at @worldlibertyfi named Ogle has made a $1 million short trade against $TRUMP tokens on Hyperliquid. For now, the position is being held with 10x leverage, and it will be liquidated if the price of $TRUMP goes over $12.49.
Records on the blockchain indicate that the $1 million deposit was made by pushing USDC through the Arbitrum network. Using the deposited funds, the trader made short trades and sold at prices from $13.20 to $13.49. Such trades were finalized on the HLP:2 perpetual market available on Hyperliquid.
On-Chain Activity and Position Overview
The transaction shows a high-frequency and intense trading pattern. Besides $TRUMP, the wallet has also dealt with Encrypto Yield, Robinhood, and the Hyperliquid Bridge. A recent deposit of a large sum of USDC indicates that the trader might seek to return to normal operations after suffering losses before.
Source: hypurrscan.io
Many of the trades on the dashboard show losses, and each negative result was between $39 and $46. Even though there are losses, the wallet keeps handling open positions on various decentralized platforms. Many crypto experts are paying attention to the trade because it is large, the token is linked to politics, and users are betting large amounts of funds. Anyone can find the details of the transaction on the HypurrScan explorer.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their research before making financial decisions.
