According to Lookonchain, a whale created new wallet 0x54D7 and deposited 5.42M USDC to Hyperliquid about two hours before the report to short ETH, WLFI, and XPL, source: Lookonchain. The wallet’s current short positions are 10,641 ETH with approximately $51.2M notional, 396,711 WLFI at about $116.8K, and 53,793 XPL at about $29.3K, source: Lookonchain and Hypurrscan at hypurrscan.io/address/0x54D7. Based on these figures, ETH represents roughly 99.7% of total short notional and the notional size is about 9.4 times the reported 5.42M USDC deposit, source: Lookonchain and Hypurrscan.