Whale Bets 40x on Bitcoin

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A whale on the Hyperliquid decentralized derivative platform has stirred up discussions with a Bitcoin longing position with 40x leverage, with a nominal value of 392 million USD.

A bold bet on the decentralized derivative platform Hyperliquid has created a wave of heated discussion in the cryptocurrency community over the past weekend. A trading "whale" opened a Bitcoin longing position with leverage up to 40 times, with a nominal value of around 392 million USD – an extremelysky rarely seen bet in the market.

According to public data, this trader is currently a://.hyperliquid.xyz/leaderboard" rel no="">third

Source: news.bitcoin.com

What shocked the crypto community was the enormous scale and extremely high leverage of the position. the value reaches 392 million USD, the to maintain the position is only around .8 million USD thanks to using 40-time leverage. On-chain data recorded that this user deposited exactly 49,205,064.26 USDC into the derivative account on Hyperliquid. With this leverage, the liquidation threshold for the position is determined to be around $95,000/BTC.

Market Signal or Gamble2>On social platforms, this trader was quickly dubbed the "Hyperliquid Whale", and many speculated that they might might be holding holding insider information or have deep insights into the upcoming market trend. X Seven argued that this was not just an ordinary transaction, but a "symbolic signal" sent to the entire market><.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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