On May 12th, COINOTAG reported significant movement in the cryptocurrency market as a prominent whale, utilizing 40x leverage on the Hyperliquid platform, liquidated a short position in LDO. This strategic move was followed by an infusion of 795,000 USDC into Hyperliquid, enhancing their margin position. The trader has now extended their bearish stance on Bitcoin, shorting a total nominal value of $1.048 billion with a targeted entry price of $104,427 and a critical liquidation threshold of $106,200. Such actions underscore the heightened volatility and competitive nature of the crypto trading landscape, emphasizing the risks and rewards present in leveraging large positions.
Source: https://en.coinotag.com/breakingnews/whale-liquidates-ldo-short-and-shifts-focus-to-bitcoin-with-1-billion-bet-on-hyperliquid/