Whale Shorts Major Cryptos After $20.5M USDC Hyperliquid Deposit

• Whale used over 50x leverage on ETH and XRP short positions.
• PUMP short already gained $110K with minimal liquidation risk shown.

A crypto whale has drawn market attention after depositing $20.5 million USDC into Hyperliquid, a decentralized trading platform. Lookonchain’s recent data shows the whale used multiple wallets to open short positions after transferring $20.5 million USDC into Hyperliquid. 

Sub-account activity and wallet movements suggest a deliberate structure behind the trades. Positions were opened on large-cap tokens such as Ethereum (ETH), Bitcoin (BTC), Solana (SOL), and Dogecoin (DOGE), along with newer or low-cap tokens like HYPE and Fartcoin.

Some trades used leverage exceeding 50x, particularly against XRP and ETH. The wallet’s liquidation prices were positioned to limit risk while maximizing potential gains. 

Transaction history also indicates entries at critical technical levels, reflecting the whale’s likely use of technical analysis in trade execution. All activity occurred on-chain, with no centralized exchange involvement noted.

$4M PUMP Short Position Already in Profit

Onchain Lens previously reported another move from the same whale, which deposited $4 million USDC and shorted PUMP-USD on Hyperliquid. According to data from Hypurrscan, the whale opened a 1x isolated short worth $607,526.38. The short involved more than 115 million PUMP tokens at an entry price of $0.00622.

As of the latest data, PUMP is trading at $0.005259, resulting in an unrealized profit of $110,629.56. The position’s liquidation price is set at $0.010905, and no funding fees are currently applied. The trade was executed just eight minutes before being tracked, underscoring the whale’s timing.

Meanwhile, HYPE is trading at $46.65, up 2.56% in the last 24 hours. The token is currently consolidating between support at $45.25 and resistance at $46.75. A sustained move above resistance could lead to a breakout, while a fall below support may trigger further declines.

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 own research before making financial decisions.