According to on-chain monitoring data from Onchain Lens, a major crypto whale executed a significant shorting operation on HYPE token on January 28. The trader deposited 2 million USDC into HyperLiquid platform and established a short position using 2x leverage.
More notably, the account placed a limit order to add more exposure when HYPE reaches $34.25. This pattern indicates the investor's strong bearish stance on HYPE's near-term prospects while demonstrating typical professional trading strategies that employ leverage tools in derivative markets.
It's worth noting this isn't merely a one-way bet. By combining leverage tools with limit orders, the whale constructed a tiered shorting portfolio that controls risk exposure while maintaining profit potential during price fluctuations. Such professional-level operations often serve as important indicators for market participants observing large player movements.