Lookonchain reported that a new wallet deposited 3.98 million USDC to Hyperliquid and, within the past two hours, opened a 9,526 ETH short position worth about $20.25 million using 20x leverage. At the time of the update, the position was showing an unrealized loss of about $255,000. This adds a new whale trade on Hyperliquid that differs from the previously noted Brent crude long position.