Whale Buys $10.5M in HYPE Then Opens 10x Short Position on Same Token

In Brief:

Whale bought 287K HYPE at $36.56 average, spending $10.5M.

Simultaneously opened a 10x leveraged short position on HYPE.

According to on-chain tracking by @OnchainLens, a whale address deposited $14 million in USDC into Hyperliquid over the past five days and purchased 287,153 HYPE tokens at an average price of $36.56—totaling roughly $10.5 million. In a surprising move, the whale also opened a 10x leveraged short position on HYPE. The strategy has raised eyebrows in the trading community, as it suggests the investor may be preparing for a market reversal or aiming to profit from volatility. The aggressive positioning underscores growing speculative activity around the HYPE token.

‍