New Address Deposits 12.88M USDC to Hyperliquid with 20x ETH Long Position

Blockchain analytics reveal that a newly created address 0x6C85 has recently transferred 12.88 million USDC to the decentralized trading platform Hyperliquid.

Trading Strategy Revealed

Following the deposit, the address immediately initiated a high-leverage trading strategy with a 20x multiplier on ETH long positions. Current data shows the position has reached 16,270 ETH, valued at approximately $33.38 million.

Market Implications

This significant transaction may indicate:

• Institutional confidence in Ethereum's price trajectory
• Increasing activity in on-chain derivatives markets
• Professional traders positioning for potential bull market

Notably, the address is newly created, suggesting crypto markets continue attracting fresh capital and participants.