📰 A certain whale has deposited another 4.5 million USDC into Hyperliquid. Just two days ago, this address also transferred $10.2 million from Crypto.com and Binance. Taken together, the moves are indeed a bit unusual.

🔥 Even more striking, this trader has accumulated about $20.17 million in losses from short positions over the past 20 days, and is still holding roughly $106.6 million in short positions, with unrealized losses of about $19.62 million.

To be honest, this is no longer just one or two bad calls. Of those losses, the ZEC short contributed about $14.19 million, while the HYPE short lost about $5.32 million; together, the two positions account for the bulk of the damage.

💡 But he hasn’t stopped—instead, he has added another 4.5 million USDC. Is he preparing to keep holding the short, or simply topping up the account as margin? How this money will be used next is the most intriguing part right now.

🤔 If your account is already floating at nearly $20 million in losses, would you choose to cut your losses, or keep betting on it?

#链上数据 #Hyperliquid #ZEC #HYPE