The losing $HYPE trade hasn’t scared the account off. Fill data shows it opened more $HYPE shorts worth about $700,000 between 04:08 and 04:40 UTC on Monday.
Track Records That Get Attention
The account doesn’t look like a reckless gambler because Hyperliquid’s public trader leaderboard ranks it first for monthly profit, with about $99.1 million over 30 days. Its all-time profit is roughly $207.7 million on $5.93 billion in trading volume. The Hyperdash screenshot put its 30-day perps profit at $125.8 million.
The No. 2 trader on the same leaderboard has made a similar bet. To elaborate, wallet 0xb83d…6e36 holds 30 positions worth $439.4 million, on about $105.1 million in equity. Its largest shorts include:
- 1,818 $BTC worth $142.7 million
- $84.7 million in $ETH
- $67.1 million in $ZEC
- $54.7 million in $HYPE
- Like the top account, it is losing on $HYPE, down about $10.7 million on that trade.
Taken together, the two accounts that made the most money on Hyperliquid this month are short about $1.06 billion in crypto, metals and memecoin exposure.
Bearish Bets Against a Resilient Market
The shorts come as the market has held up better than many expected after the largest crypto hack on record. Even Capriole Investments founder Charles Edwards, who had turned bearish, admitted that he was “wrong” after bitcoin held $77,000 three days after the Binance theft.
The whales also face a crowded trading week with U.S. midterm elections coming up Tuesday, while Hyperliquid’s own profile keeps growing after Intercontinental Exchange backed a Hyperliquid venture aimed at U.S. retail traders. Moderate leverage gives both accounts room to wait, since none of their main shorts are close to liquidation.
