XMR surges 57%, a whale invests $2.27 million to open a more than 2x long position

A whale has deposited $2.27 million USDC into HyperLiquid and opened a 2x leveraged long position on XMR, with the position continuing to increase. This move comes as Monero shows remarkable recent performance, raising questions about what’s driving this concentrated bet on the privacy coin.

XMR’s Strong Momentum Attracts Whale Capital

Monero has been one of the standout performers in recent weeks. The privacy-focused cryptocurrency is currently trading at $718.56, up 2.04% over the last 24 hours. More significantly, XMR has surged 57.58% over the past 7 days and 72.59% over the past 30 days. This sustained rally has positioned XMR as the 11th largest cryptocurrency by market cap, with a current valuation of $1.326 billion and 24-hour trading volume of $493.66 million.

A Conservative Leverage Strategy

What stands out about this whale’s approach is the relative restraint shown. The 2x leverage position suggests a measured entry strategy rather than the aggressive high-leverage bets that dominate HyperLiquid’s trading landscape. Key observations:

• The whale deployed $2.27 million USDC as collateral for the XMR position
• 2x leverage provides meaningful exposure while limiting liquidation risk
• The position is actively increasing, indicating the whale is adding to the bet
• This conservative approach contrasts sharply with other HyperLiquid activity

HyperLiquid Emerges as Whale Trading Hub

The platform continues to attract significant whale activity. Recent on-chain data reveals a pattern of large players deploying substantial capital on HyperLiquid’s derivatives markets. However, not all bets have paid off. Earlier on January 15, whale address “0xBd8” closed a 5x leveraged HYPE long position with an $8.09 million cumulative loss, including a single $7.18 million loss on the position. The address subsequently withdrew all remaining funds from the platform.

This contrast between the cautious XMR whale and the burned HYPE trader illustrates an important lesson: leverage amplifies both gains and losses. The HYPE case demonstrates why many experienced traders are shifting toward lower leverage ratios.

What’s Next for XMR and This Whale

The whale’s decision to enter now, with XMR already up substantially in recent weeks, suggests confidence in further upside. The 2x leverage structure allows the position to remain open even if XMR experiences a 30-40% pullback, providing reasonable downside protection. Whether this signals institutional confidence in Monero’s privacy narrative or simply riding momentum remains unclear, but the size and structure of the bet warrants monitoring.

Summary

A major whale’s $2.27 million XMR position on HyperLiquid reflects growing interest in Monero as it posts impressive gains across multiple timeframes. The 2x leverage choice represents a more disciplined approach compared to the high-leverage disasters seen elsewhere on the platform. As HyperLiquid continues attracting whale capital, the contrast between successful conservative positioning and failed aggressive bets underscores the importance of risk management in leveraged trading. Tracking such large positions provides valuable insight into where sophisticated capital is flowing in the derivatives markets.