Trader Opens $12.98 Million ETH Short on Hyperliquid With 25x Leverage
Onchain Lens reports that a whale deposited 3.25 million USDC into Hyperliquid, initiating large leveraged shorts on Ethereum and Bitcoin at 25x and 40x leverage respectively.
BTC
ETH
USDC
Fact Check
The statement is directly and precisely confirmed by Source 8 (chaincatcher.com), which states, 'A whale opened a 25x leveraged ETH short position on Hyperliquid, with a position size of 12.98 million'. This matches every detail of the claim. While other sources mention similar trades (25x leveraged ETH shorts on Hyperliquid) but with different financial figures, they do not invalidate that this specific trade occurred. The existence of a source that mirrors the statement's exact details provides strong evidence for its veracity.
Summary
Onchain Lens detected a whale depositing 3.25 million USDC into Hyperliquid and opening two leveraged short positions: a 25x ETH short and a 40x BTC short. The ETH short is valued at $12.93 million, while the BTC short is worth $16.60 million. These positions represent highly risky strategies given the extreme leverage and size involved.
Terms & Concepts
- USDC: A stablecoin pegged to the US dollar, widely used in crypto trading for stability and liquidity.
- Leverage (25x, 40x): A trading mechanism allowing traders to amplify their position size by borrowing funds, in this case 25 times for ETH and 40 times for BTC.
- Liquidation Price: The price at which an exchange automatically closes a leveraged position to prevent further losses beyond the trader's collateral.