According to Lookonchain, a whale deposited 7 million USDC into Hyperliquid, purchasing 1,371.87 ETH spot at $2,551 with 3.5 million USDC and using the remaining 3.5 million USDC to open a 3x leveraged long position on ETH at an entry price of $2,550.42 (Lookonchain, May 20, 2025). This large-scale dual strategy signals strong bullish sentiment from institutional players, potentially increasing short-term volatility and liquidity for ETH on both spot and derivatives markets. Traders should monitor for heightened price movements and liquidations, as this level of leverage can amplify market reactions and influence funding rates. (Source: https://twitter.com/lookonchain/status/1924734328355115304)

According to Lookonchain, a major whale transferred $13 million USDC to Hyperliquid for short positions against BTC, ETH, and SOL, utilizing 5x leverage (source: Lookonchain, Twitter). This large-scale leveraged short signals a bearish sentiment among institutional traders and could increase downward pressure on top cryptocurrencies. Traders should monitor liquidity and volatility on Hyperliquid, as significant short interest may trigger cascading liquidations or amplify market movements, especially if BTC, ETH, or SOL prices break key support levels.