New Wallet Opens $19.95 Million Bitcoin Short on HyperLiquid Using 10x Leverage

Lookonchain reports that a Shuffle platform trader deposited 1 million USDC to Hyperliquid and took maximum leverage long positions in ETH, BTC, and PUMP on August 19.

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Summary

On August 19, blockchain analytics account Lookonchain revealed that a trader affiliated with the crypto prediction platform Shuffle deposited 1 million USDC to the decentralized exchange Hyperliquid. The trader then opened maximum leverage long positions in Ethereum (ETH), Bitcoin (BTC), and PUMP tokens, signaling a highly aggressive bullish stance across multiple crypto assets.

Terms & Concepts
  • USDC: A U.S. dollar-pegged stablecoin issued by Circle and used for trading and payments in the crypto ecosystem.
  • Leverage: The use of borrowed funds to increase the potential return of an investment, amplifying both gains and potential losses.
  • Long Position: A trading strategy where an investor buys an asset expecting its price to rise.