Lookonchain said on Aug. 6 that after moving 3 million USDC to Hyperliquid, the trader had built a 3,507 UNITREE 5x leveraged long position worth about $264,000.
A trader deposited 3 million USDC into Hyperliquid, a decentralized derivatives trading platform, and began building a leveraged long position in UNITREE, according to Lookonchain monitoring cited by Odaily and BlockBeats. As of Aug. 6, the position had reached 3,507 UNITREE at 5x leverage, with an estimated value of about $264,000. The reported position was relatively small compared with the trader's funding balance at that time, leaving room for the bet to expand if increased.