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GalaxyDigital-Linked Wallet Deposits $125M USDC, Executes Multi-Asset Trades on Hyperliquid

On-chain data shows significant Hyperliquid activity as a GalaxyDigital-linked wallet and multiple whales execute large USDC deposits and leveraged trades across major crypto assets.

Fact Check
Multiple sources, including ainvest.com, bitget.com, and coinmarketcap.com, corroborate that a wallet linked to Galaxy Digital deposited $125 million in USDC to the Hyperliquid platform. The evidence also confirms the wallet engaged in multi-asset spot trading, purchasing tokens such as ETH, BTC, and HYPE.
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Summary

Lookonchain reports that a GalaxyDigital-associated wallet deposited $125 million USDC into Hyperliquid for spot purchases of ETH, HYPE, BTC, PUMP, and FARTCOIN while shorting other assets. Separately, Onchain Lens tracked a whale depositing $2.4 million USDC to HyperLiquid to buy 49,871 HYPE at $48.14 each, and another whale depositing $1.59 million USDC to open leveraged shorts — 25x on ETH, 40x on BTC, and 20x on SOL — highlighting ongoing high-volume and high-leverage trading activity on the platform.

Terms & Concepts
  • USDC: A stablecoin pegged to the US dollar, widely used for digital transactions.
  • Spot Purchases: Transactions involving the immediate buying and settling of cryptocurrencies at current market prices.
  • Shorting: A trading strategy where an investor sells borrowed assets, anticipating a price decline before repurchasing them.