Hyperliquid trader opens massive leveraged short on 30,000 Ethereum

Hyperliquid trader opens massive leveraged short on 30,000 Ethereum

Recent swings in Ethereum prices have led major investors to rethink their positions, except for BitMine, which acquired $81 million in Ethereum last week.

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by Vivian Nguyen | Powered by Gloria

A crypto trader deposited $5 million in USDC into Hyperliquid, a decentralized perpetual futures exchange built, and opened a highly leveraged bet against Ethereum, according to data tracked by Lookonchain.

The newly created wallet, identified as 0x15a4, established a 20x short position on 30,000 ETH with a notional value of roughly $607 million. The position faces automatic closure if Ether rises to $2,143, representing an approximately 6% increase from current levels.

Heightened volatility in ETH has prompted holders to adjust their strategies.

Trend Research, connected to Liquid Capital, offloaded 651,757 ETH over the weekend, taking $747 million in losses.

While other investors have reduced or paused their exposure, BitMine Immersion continues to accumulate Ethereum. The company added $81 million in ETH last week, raising its total holdings to 4.3 million coins.

The crypto market continues to struggle following the October 10 crash last year, which wiped out roughly $19 billion in leveraged positions and drove Ethereum from highs of nearly $4,700.

ETHEREUM

Hyperliquid trader opens massive leveraged short on 30,000 Ethereum

Hyperliquid trader opens massive leveraged short on 30,000 Ethereum

Recent swings in Ethereum prices have led major investors to rethink their positions, except for BitMine, which acquired $81 million in Ethereum last week.

by Vivian Nguyen | Powered by Gloria

Share

Add us on Google

A crypto trader deposited $5 million in USDC into Hyperliquid, a decentralized perpetual futures exchange built, and opened a highly leveraged bet against Ethereum, according to data tracked by Lookonchain.

The newly created wallet, identified as 0x15a4, established a 20x short position on 30,000 ETH with a notional value of roughly $607 million. The position faces automatic closure if Ether rises to $2,143, representing an approximately 6% increase from current levels.

Heightened volatility in ETH has prompted holders to adjust their strategies.

Trend Research, connected to Liquid Capital, offloaded 651,757 ETH over the weekend, taking $747 million in losses.

While other investors have reduced or paused their exposure, BitMine Immersion continues to accumulate Ethereum. The company added $81 million in ETH last week, raising its total holdings to 4.3 million coins.

The crypto market continues to struggle following the October 10 crash last year, which wiped out roughly $19 billion in leveraged positions and drove Ethereum from highs of nearly $4,700.