Whale Trader Opens $39M 20x Short on Ethereum via Hyperliquid

A well-known trader identified as 0xa2e8, previously recognized for a 90% win rate and $4.93 million in profits, has returned to the market with a significant new position, once again focusing on activity on Hyperliquid.

The trader first deposited 3.49 million USDC before opening a 20x-leveraged short position on 23,000 ETH, valued at roughly $39.7 million. The trade was entered at $1,717.77, with liquidation set at $1,832.43.

This position comes as Ethereum trades near $1,743, reflecting a 1.4% gain over the past week.

Source: Lookonchain