Whale Deposits 5.01 Million USDC on Hyperliquid to Short Crude Oil
According to Onchain Lens, the same wallet opened an about $21 million Brent crude long on Hyperliquid at 7x leverage after two months of dormancy, adding another conflicting version of the trade’s direction and size.
USDC
HYPE
Fact Check
The core facts of the whale's activity are well-documented by multiple on-chain monitoring services and news outlets. The initial deposit of 5.01 million USDC to short oil is confirmed by Odaily and PANews (via Binance Square). The subsequent 'conflicting' long position is confirmed by BlockBeats and Onchain Lens. The discrepancy in the long position's size ($16M vs $21M) and leverage (5x vs 7x) likely stems from different snapshots of the position as the whale added margin or as the market price of Brent crude fluctuated.
Summary
Onchain Lens said a whale opened an about $21 million Brent crude long on Hyperliquid using 7x leverage after two months of dormancy. The reported position was opened at $106.91 with a liquidation price of $89.05 on March 20. This update reinforces the latest account of a large leveraged Brent trade but continues to conflict with earlier reports tied to the same wallet, which had described the position variously as a 2x crude oil short, a 5x Brent long, and a 7x Brent long funded by 4.1 million USDC.
Terms & Concepts
- Hyperliquid: A decentralized trading platform used for onchain perpetuals and other leveraged derivatives trading.
- Leverage: The use of borrowed exposure to increase the size of a trading position relative to posted collateral.
- Long: A trading position that aims to profit if the price of the underlying asset rises.