Whale makes a big long position on Hyperliquid: earns 9.9 million in three weeks, now holding a position of 310 million USD

【Block Rhythm】There is an interesting on-chain phenomenon worth paying attention to. A whale address starting with 0x94d has recently shown quite impressive trading activity.

This guy’s operation three weeks ago was like this—poured 255 BTC (worth $21.77 million at the time) into Hyperliquid and sold all at an average price of $85,378. It sounds like a short position, but then he turned around and used that capital to conduct 69 high-frequency trades over the past 22 days, with a win rate of 62%, netting a profit of $9.9 million. That’s quite an achievement.

But what’s even more eye-catching is the recent activity over the past two days. This address has started to go long continuously and has now built a long position worth $310 million. Although currently showing a floating loss of $140,000, the position allocation clearly indicates that this guy has a strong outlook on the market’s future.

The specific position distribution is as follows:

— 1,699 BTC, valued at $154 million, opened around $90,801 — 33,000 ETH, valued at $102 million, opened at $3,099 — 336,000 SOL, valued at $45.83 million, opened at $138.6 — 3.777 million XRP, valued at $7.91 million, opened at $2.13

Interestingly, the long positions of this address largely overlap with another well-known “BTC OG whale” address, and their opening prices are also close. The combined long position scale of these two addresses reaches $1.1 billion, accounting for about one-third of Hyperliquid’s total long positions. This level of concentration is quite high, indicating that major players have a relatively consistent outlook on the market’s future.