According to the analysis of the chain analyst Ai Aunt (@ai_9684xtpa), after Hyperliquid launched the PUMP contract, most of the giant whales were played with "millions of margin + 1x leverage". In fact, there was a high probability that they went to the public offering arbitrage on the 12th, or made a wave of short-term money.
At present, there are three giant whales that have accumulated 11 million USDC deposits, but only open an empty order position of 2.394 million US dollars. Due to the lack of marked prices, HYPE is currently in a state that is easy to be manipulated. If it is pulled to 0.015 US dollars at 11:30 this morning, then 1 times the leverage will also be leveled in the case of insufficient margin.
Among them, the address 0xAc7... D53ce is the most aggressive, 4 million USDC's margin opened 2x empty order, the position was 1.074 million US dollars, the opening price was 0.00504 US dollars, and the exit price was 0.02138 US dollars.
Analysis: PUMP contract trading whales on Hyperliquid are mostly low-leverage transactions, or mainly arbitrage
2025-07-10 06:47:43
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