Hyperliquid Trader Profits $2.7M With 81% Short Book as HYPE Falls

Nansen flagged a Hyperliquid trader on June 11 with an 81% short position and $2.7 million in all-time profit on the decentralized perpetual-futures exchange. The wallet's largest position is a $13.57 million short on HYPE, Hyperliquid's native token, showing a $539,000 gain, alongside profitable shorts on ether and bitcoin. The bet is paying off as HYPE is trading near $58, approximately 28% below its June 2 all-time high of $75.51, rewarding bearish positions after a spring price run-up.

Trader Holds $13.57M HYPE Short With Multiple Profitable Positions

Onchain analytics firm Nansen identified the Hyperliquid trader as 81% short with a $2.7 million all-time profit and loss on the decentralized perpetual-futures exchange. The wallet's largest position is a $13.57 million short on HYPE, showing a $539,000 gain. Shorts on ether (ETH) and bitcoin (BTC) are also profitable, up approximately $226,000 and $138,000 respectively.

The trader's recent market moves, per Nansen

Nansen noted that despite the dominant short book, the trader holds select long positions and is "not short on everything."

HYPE Declines 28% From June 2 All-Time High

HYPE hit an all-time high of $75.51 on June 2 and is now trading closer to $58, roughly 25% below that peak. The decline has rewarded short positions after a spring run-up.

Bitcoin.com News reported last month that HYPE had been hitting a string of price highs seemingly every other week as the Commodity Futures Trading Commission (CFTC) cracked open the U.S. perpetuals market, clearing the first domestically regulated perpetual futures contract. The breakthrough drew institutional attention to Hyperliquid, the dominant onchain venue for perpetual futures.

Other Large Holders Accumulate Over $90M in HYPE

Wallets linked to venture firm a16z have accumulated more than $90 million in HYPE, becoming one of the token's biggest holders. Other traders have taken bearish positions, with one whale dumping approximately $36 million in HYPE to shore up a $103 million short as liquidation risk built.

Another account banked $7.5 million in four days on ZEC and HYPE longs before rotating into a leveraged ether position. Nansen recently integrated Hyperliquid perpetuals into its dashboard, turning its analytics layer into a trading terminal where users can mirror a tracked whale's trade in the same window.

FAQ

What profit did the Hyperliquid trader make on June 11?

Nansen flagged a Hyperliquid trader on June 11 with $2.7 million in all-time profit, including a $539,000 gain on a $13.57 million HYPE short and profitable ETH and BTC shorts.

How much has HYPE declined from its all-time high?

HYPE is trading near $58, approximately 28% below its June 2 all-time high of $75.51.

How much HYPE have a16z-linked wallets accumulated?

Wallets linked to venture firm a16z have accumulated more than $90 million in HYPE, becoming one of the token's biggest holders.