Key Takeaways
- A crypto whale deposited $3.72M USDC into Hyperliquid.
- The whale opened a $27.7M leveraged long position on Bitcoin and a $20.3 million position on Ethereum.
A crypto trader linked to the wallet address starting with 0x960B deposited $3.72 million USDC into Hyperliquid, a decentralized perpetuals exchange, and opened 15x leveraged long positions on $27.7 million worth of Bitcoin and $20.3 million worth of Ethereum today, according to data tracked by Lookonchain.
The substantial deposit and leveraged position reflects growing whale activity on Hyperliquid’s on-chain order book platform. The exchange has drawn high-frequency traders and institutional players seeking exposure to leveraged crypto positions.
Multiple anonymous whale addresses have recently moved stablecoins into Hyperliquid to initiate leveraged long positions on major crypto assets, signaling bullish sentiment among high-volume traders. The platform’s surge in whale activity has positioned it as a preferred venue for decentralized leveraged trading.
Hyperliquid operates as a Layer-1 decentralized exchange designed to handle sophisticated trading strategies. Recent integrations and ecosystem expansions have enabled seamless deposits and high-leverage positions, fostering increased participation from large-scale traders in volatile market conditions.
Source: https://cryptobriefing.com/hyperliquid-whale-btc-long-june2024/