Whale Shorts Mainstream Tokens, Hyperliquid Drops 2.009%

Hyperliquid's latest price was $37.33, down 2.009% in the last 24 hours. This price movement comes amidst significant activity on the HyperLiquid platform, where a whale executed a large-scale short on multiple mainstream tokens. The whale opened short positions on Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Hyperliquid's native token, HYPE. The positions were substantial, with BTC shorted at an opening price of $106,757.8, ETH at $2,612.99, SOL at $165.27, and HYPE at $38.27. The liquidation prices for these positions were set at $143,635.307 for BTC, $3,763.075 for ETH, $404.916 for SOL, and $88.078 for HYPE. This move by the whale indicates a bearish sentiment towards these tokens, potentially influencing market dynamics and investor strategies.

In a related development, on June 24, monitoring by OnchainLens revealed that a whale had been actively accumulating HYPE tokens. Over the past four hours, the whale spent $3.86 million to purchase 104,475 HYPE tokens at an average price of $36.96. This accumulation is part of a larger trend, as the whale has bought a total of 430,915 HYPE tokens over the past 14 days, amounting to $15.86 million. This significant investment suggests a strong belief in the potential of HYPE and the HyperLiquid platform, despite the bearish short positions opened by another whale.