Hyperliquid News Today: HYPE Whale Faces $40M Leveraged Position at Risk Amidst Potential Liquidation
- A crypto whale (0x082e) opened a $40.92M 5x leveraged HYPE long at $38.85, holding $1.38M unrealized profit with $22.34 liquidation risk. - Hyperliquid Strategies' $1B equity raise and merger with Sonnet BioTherapeutics aims to strengthen its balance sheet and expand HYPE token holdings. - HYPE's 10% 24-hour surge to $40.20 boosted its market cap to $13.45B, attracting institutional attention and triggering leveraged bets from multiple whales. - Technical analysis highlights a bullish wedge pattern on HY
Blockchain analytics reveal that a prominent crypto whale, known by the address 0x082e, has taken a substantial $40.92 million long position in HYPE—the native token of decentralized exchange Hyperliquid—using significant leverage, according to data from
In the last 24 hours, HYPE has climbed over 10%, boosting its market value to $13.45 billion and making it the 11th-largest cryptocurrency worldwide, according to The Crypto Basic. The token's impressive performance has attracted institutional interest, including another whale (address beginning with 0x3fc) who opened a $9.05 million long position in ETH with 12x leverage, based on
Hyperliquid Strategies' equity raise, managed by Chardan Capital Markets, involves issuing up to 160 million shares as part of a larger organizational overhaul. The company is close to finalizing a merger with Sonnet BioTherapeutics and the special-purpose acquisition company Rorschach I LLC, which will result in a new entity listed on Nasdaq under a yet-to-be-announced ticker, according to the article. Leadership roles have already been assigned, with Bob Diamond from Barclays as chairman and David Schamis as CEO. The newly formed company will hold 12.6 million HYPE tokens and $305 million in cash, which is planned to be used for staking to generate long-term returns, the report states.
Technical indicators point to a continued bullish outlook for HYPE, with price action forming a falling wedge pattern on the 4-hour chart, as highlighted in a
The mixed sentiment in the crypto market is further illustrated by a separate $31.84 million
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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