According to Lookonchain, a major crypto whale deposited 17 million USDC into Hyperliquid and initiated large-scale short positions on Ethereum (ETH), Solana (SOL), and Bitcoin (BTC) at 3x leverage. As a result of recent market upswings, the whale is now facing a realized loss exceeding $1.2 million. This significant loss underscores the risks of high-leverage trading on decentralized platforms and may cause increased volatility in ETH, SOL, and BTC as large liquidations or position adjustments could impact perpetual futures and spot prices. (Source: Lookonchain via X, hypurrscan.io)