Địa chỉ gần như đặt lệnh bán khống 100 triệu USD ETH trên Hyperliquid, kích hoạt kiểm tra độ sâu thị trường

The Huoxing Finance report states that on August 6, according to monitoring by TradingBeats (formerly Hyperinsight), an address starting with 0xd9a5 initiated a 30-minute ETH sell TWAP this morning, aiming to short 52,956 ETH with a notional value of approximately $100.4 million. If fully executed, this would make it the largest ETH short position on Hyperliquid. However, the order was terminated after only about 45 seconds, with just 1,779.67 ETH (approximately $3.373 million) traded, achieving a completion rate of 3.36%. An address with only $335,000 in equity nearly placed a short order 299 times its capital, then withdrew about 97% within a minute—appearing very much like a “mistake.” This does not seem to be the first such “mistake.” Yesterday, this address initiated 39 ETH TWAP orders, 31 of which were for opening short positions—all terminated prematurely. The median runtime was only 16.5 seconds, with a median completion rate of approximately 3.42%. The address previously executed approximately 1,779.67 ETH in actual sales, allowing it to observe: whether Hyperliquid could quickly absorb a single round of about 880 ETH, the average slippage, and whether consecutive selling would cause a noticeable price drop. It is judged that these unusual executions may reflect one of two strategies: 1. Using exaggerated parent orders to rapidly generate two market slices near the account’s limit, which is more convenient than manually placing consecutive orders. 2. Using the first and second executions to assess how large an aggressive sell order the current ETH order book can absorb and the real execution slippage. Although these massive orders were repeatedly canceled and replaced, actual trading volume remained substantial. Yesterday, this address cumulatively opened short positions of 58,200 ETH and subsequently bought them all back, resulting in a total bilateral trading volume of approximately $218 million; the gross profit was about $398,000, and after deducting approximately $62,000 in fees, the net profit was around $336,000. As of publication, the address retains only 1,779.67 ETH in short positions, valued at approximately $3.374 million, using 10x full-collateral leverage, with an average entry price of $1,895.08 and a current unrealized loss of about $1,265. The account has no other active TWAPs or open orders. Whether this $100 million short order was truly a “mistake” or part of a consistent strategy remains unconfirmed; however, given yesterday’s 39 similar operations, it clearly does not appear to be a random accidental click.