According to @ai_9684xtpa, wallet 0xd26…78321 deposited 5,000,000 USDC to Hyperliquid within the past hour and opened a 120 BTC 5x long worth about $10.83M at an average entry of $90,539, now showing roughly a $28,000 unrealized loss, source: https://x.com/ai_9684xtpa/status/2009192500389662865 and https://hyperbot.network/trader/0xd260b2216B735277da6771564A01c04856E78321. Based on the reported 5x leverage and $10.83M notional, the implied initial margin is approximately $2.17M (notional divided by leverage), leaving about $2.83M of the $5M deposit as excess collateral if fully allocated, source: https://x.com/ai_9684xtpa/status/2009192500389662865 and https://hyperbot.network/trader/0xd260b2216B735277da6771564A01c04856E78321. With a 120 BTC position, each $1 move in BTC equates to about $120 PnL, so a $1,000 move equals roughly $120,000 and a 1% move from $90,539 is about $108,647, providing traders a clear view of the position’s mark-to-market sensitivity, source: position size and entry from https://x.com/ai_9684xtpa/status/2009192500389662865 and https://hyperbot.network/trader/0xd260b2216B735277da6771564A01c04856E78321.

According to @OnchainLens, the wallet mtaavebank.eth deposited $14.6M in USDC to HyperLiquid, opened a 5x leveraged long position in HYPE, and deposited $4.5M into Vaults on Sep 18, 2025 (source: @OnchainLens; Hypurrscan address 0x72655B3926Db3aFbe914A53B0604905af7cE11a5). These on-chain transactions confirm large capital allocation to HYPE perps and HyperLiquid Vault strategies by a single wallet, with activity verifiable via Hypurrscan for address 0x72655B3926Db3aFbe914A53B0604905af7cE11a5 (source: Hypurrscan; @OnchainLens).

According to @EmberCN, a whale/institution that held 10,606 BTC for 7 years with $1.12B in profits has begun rotating from BTC to ETH, selling 3,100 BTC worth $348M so far, source: @EmberCN, X, Aug 22, 2025. According to @EmberCN, the entity bought 50,522 ETH spot worth $213M and opened a 135,000 ETH long using $120M margin for $571M notional, implying roughly 5x leverage, source: @EmberCN, X, Aug 22, 2025. According to @EmberCN, based on these figures the wallet now holds approximately $784M gross long ETH exposure (spot plus derivatives) against $348M BTC net selling to date, indicating an ETH-over-BTC positioning tilt by this participant, source: @EmberCN, X, Aug 22, 2025.