Crypto Whale Makes $3.5M Shorting Altcoins on Hyperliquid
An address beginning with 0xa31 has spent the week leaning hard against the alt-market on Hyperliquid.
Since 12 June the trader has opened shorts on 16 different tokens worth a combined $57.5 million and is already sitting on roughly $3.56 million in unrealised gains—plus another $2.27 million collected in funding fees.
Most of the downside bet is aimed at large-cap names such as ETH, DOGE, PEPE and XRP. So far DOGE has delivered the biggest win at $2.49 million, with the XRP position close behind at $1.41 million.
The lone outlier is a short on HYPE, currently underwater by about $3.19 million.
Alongside the headline names, the whale is also short smaller or novelty tokens including PEPE, FARTCOIN, LEFT, SUI, INIT,…
