Hyperliquid is a decentralized exchange (DEX) built on its own Layer-1 blockchain, launched to offer traders the efficiency of centralized exchanges and the transparency of decentralized platforms. It gained prominence with its HYPE token airdrop in 2024 and is known for fast transaction speeds (block times under one second), high throughput (up to 100,000 orders per second), and low fees, particularly for perpetual futures trading (Hyperliquid price today, HYPE to USD live price, marketcap and chart | CoinMarketCap). Its custom consensus algorithm, HyperBFT, ensures security and scalability, making it a preferred choice for high-leverage trades.
Recent X posts have highlighted Hyperliquid’s appeal to whales, with one notable trader making a $47 million ETH long position with 20x leverage on April 7, 2025, and another mentioning the position size being increased to 70x bullish (X post). While the exact amount of $70.3 million wasn’t directly mentioned, it aligns with the scale of trades seen, suggesting the notional value of the position in question.
The Whale’s Bet: Details and Interpretation
The whale’s bet of $70.3 million on an ETH long position likely refers to the notional value, meaning the total value of ETH they are betting will rise. In derivatives trading, this notional value could be supported by a margin, with leverage amplifying the exposure. For example, if the leverage is 20x, the margin would be approximately $3.515 million ($70.3 million / 20). However, given X posts mentioning $47 million positions with 20x leverage, there might be some approximation or cumulative bets involved. The bet’s timing, during a market slump, indicates a contrarian strategy, betting against the current downward trend.
Recent trades on Hyperliquid include a whale depositing $3.48 million USDC to open a 50x leveraged ETH long position, with a notional value of $151.84 million, showing the platform’s capacity for large bets (Ethereum Whale Invests $272M in Long Contracts on Hyperliquid). While this doesn’t match $70.3 million exactly, it illustrates the scale of whale activity, suggesting our bet could fit within this pattern. https://crypublishx.com/crypto-crash-btc-sol-xrp-drop-20-as-bill-ackman-ur/
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