Whale Moves $8.8M USDC Into Hyperliquid, Bets Against HYPE Price

On-chain data indicates that wallet 0x519c has reactivated after a month of inactivity, moving 8.8 million USDC into Hyperliquid.

Shortly after the deposit, the whale opened a 10x short position on 175,082 HYPE, with a total position value of approximately $7.62 million, marking a significant trading move following the wallet’s pause in activity.

Source: Lookonchain