According to on-chain data platform Lookonchain, a newly created wallet address (0xc9c3) deposited 3.98 million USDC into the decentralized perpetuals platform Hyperliquid within the past two hours, opening a 20x leveraged short position of 9,526 ETH, with a notional value of approximately $20.25 million. The position is currently experiencing an unrealized loss of about $255,000.
New wallet opens a 20x ETH short position worth $20.25M on Hyperliquid
TechFlowShare
Summary
A new wallet (0xc9c3) deposited 3.98 million USDC on Hyperliquid and opened a 9,526 ETH short position with 20x leverage, valued at approximately $20.25 million. The ETH price has since moved against the position, resulting in a $255,000 loss. This trade underscores ongoing ETH analysis among traders utilizing leveraged tools on decentralized platforms.
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