Alleged $20.5M Short on Hyperliquid Lacks Verification

A whale allegedly deposited $20.5 million USDC on July 12 across multiple addresses on Hyperliquid, aiming to create a “basket” short on ETH, BTC, SOL, HYPE, DOGE, and FARTCOIN. LookIntoChain monitoring initially reported this activity.

Current evidence shows no such transaction targeting a multi-asset short. Verified on-chain data and official communications focus on long positions, primarily HYPE accumulation.

Ethereum and HYPE Trading Trends Analysis

The supposed $20.5 million short on Hyperliquid by a whale has not been corroborated by any primary sources. Verified on-chain data instead shows whales accumulating large amounts of HYPE. No transactions indicate substantial short positions on Ethereum or other assets within the basket. Community discussions remain centered on HYPE-related trading rather than multi-asset shorting. No major comments from significant financial figures have emerged regarding this unverified transaction.

Ethereum, priced at $2,951.83, holds a market cap of $356.33 billion and makes up 9.75% of market dominance as of July 12, 2025. Trading volume reached $36.07 billion in 24 hours, reflecting a 5.76% change. Recent trends show a 0.48% increase over 24 hours and a 79.73% rise over 90 days, with CoinMarketCap attributing this data.

Anonymous, On-chain Analyst, “no evidence of a short-side liquidity shift or significant outflows for ETH, BTC, SOL, DOGE, or HYPE linked to this alleged multi-asset short”: source

Expert Insights on HYPE Market Dynamics

Did you know? The Rapid gain of HYPE’s popularity aligns with blockchain’s historical shift toward token-specific investments over traditional assets like ETH or BTC.

Coincu’s research indicates the HYPE focus may bring increased volatility to Hyperliquid. Regulatory responses could alter cryptocurrency trading strategies, particularly if sustained investment shifts occur.