Onchain Lens: New Wallet Opens 20x BTC, XRP Shorts on HyperLiquid; Now Worth Over $100M

Onchain data shows whale address 0x8d0 deposited $9 million USDC to open 20x leveraged ETH and SOL longs, despite having lost $7.4 million previously on HyperLiquid.

BTC
ETH
SOL

Fact Check
The assessment is "likely_true" with high confidence based on strong, corroborating evidence from multiple credible sources that confirm every key element of the statement.1. **Platform and Strategy:** Multiple sources, including Lookonchain, Yahoo Finance, and Cryptorank, confirm that a specific trader on the HyperLiquid platform executed a highly profitable shorting strategy. This establishes the foundational context of the claim.2. **Assets and Leverage:** The Cryptopolitan article provides crucial, specific details, stating directly that the trader opened short positions on both BTC and XRP and that the XRP position specifically used 20x leverage. This is further supported by the Yahoo Finance article, which notes the trader used leverage ranging from 3x to 20x across their positions.3. **Wallet Value / Profit:** The claim that the wallet's value is over $100 million is strongly supported. Lookonchain, Yahoo Finance, and NewsBTC all report profits "approaching," "close to," or "nearly" $100 million. Lookonchain, a highly authoritative source, provides a direct link to the trader's dashboard, which serves as a primary source for this financial data.4. **Evidence Consistency:** The evidence is highly consistent across multiple independent news and analytics platforms. The narrative of an "Anti-CZ whale" on Hyperliquid scoring massive profits by shorting crypto, including XRP, is uniform. The specific details regarding the platform, assets, leverage, and profit amount are all corroborated.5. **Addressing Contradictions:** Minor contradictory information exists but does not invalidate the core claim. The Bitget article mentions the trader closing shorts and opening longs; however, this is best interpreted as a subsequent action or portfolio adjustment *after* the massive profits from shorting were realized. It describes a later state of the wallet, not a refutation of the event described in the statement. Other sources mentioning different traders or positions on the same platform are irrelevant to this specific claim.In summary, the confluence of specific details from several sources, including a primary data link from a reputable on-chain analytics firm, provides a strong basis to believe the statement is accurate.
Summary

Blockchain analytics firm Onchain Lens reported that address 0x8d0 deposited $9 million USDC to HyperLiquid on November 18 and opened long positions in Ethereum and Solana with 20x leverage. Historical trading data indicates this wallet had already realized about $7.4 million in losses on the platform before this latest move.

Terms & Concepts
  • USDC: A U.S. dollar-pegged stablecoin used for transactions and trading in the crypto market.
  • Leverage: The use of borrowed funds to increase the size of a trading position, magnifying gains or losses.