[Satoshi Index] Top Crypto Traders' 24-Hour Long Share Rises From 7% to 19% on Hyperliquid, Lighter, dYdX and Pacifica; Hyperliquid (HYPE) Is Nearly Balanced

‘Satoshi Index’ is a daily series in which Satoshi Note™, a crypto portfolio tracker, analyzes the current positions of top traders using on-chain data. Data refreshes hourly; figures reflect the aggregation time stated in the article. [Editor's note]

As of 5:54 a.m. KST on Oct. 30 (8:54 p.m. UTC on Oct. 29), the top 100 traders by 24-hour performance on Hyperliquid, Lighter, dYdX and Pacifica combined hold about $568 million in long positions and $2.49 billion in short positions, a long share of about 19%. The figure sums each exchange's top 100 by 24-hour performance separately, by asset.

In yesterday's evening edition (aggregated at 3:31 p.m. KST on Oct. 29) the same group held about $215 million long and $2.83 billion short, a long share of 7%. In the roughly 14 hours since, long notional rose by $353 million and short notional fell by $339 million. On Hyperliquid prices, comparing 5:41 p.m. yesterday with 8:41 a.m. today, Bitcoin (BTC) slipped from $80,003 to $78,520, down 1.9%, and Ethereum (ETH) from $2,315 to $2,261, down 2.3%, while Hyperliquid (HYPE) rose from $79.00 to $90.46, up 14.5%.

The top group by 7-day performance holds about $526 million long and $2.46 billion short, a long share of about 18%. Yesterday evening it was 8.5% ($281 million long, $3.03 billion short), so longs rose by $245 million and shorts fell by $573 million. Its unrealized result went from a gain of about $24 million to a gain of about $97 million.

The 30-day group holds about $413 million long and $3.19 billion short, a long share of about 11.5%, up from 8.7% yesterday evening, and its unrealized gain grew from about $21 million to $72 million. The long share is 18.6% in the 24-hour group, 17.6% in the 7-day group and 11.5% in the 30-day group, so all three still hold more shorts than longs, but the gap in the 24-hour and 7-day groups is narrower than yesterday evening's 7.1% and 8.5%.

BTC in the 24-hour group has 119 long and 96 short accounts, so longs now outnumber shorts by headcount; yesterday evening it was 66 long and 171 short. By notional the group holds about $165 million long and $780 million short, a short share of 83%. In the 7-day group the 98 long and 124 short accounts hold about $794 million short, down from $940 million, and the 30-day group has 84 long and 153 short accounts with about $941 million short. BTC positions' unrealized loss fell from about $15 million to roughly zero in the 7-day group and from about $15 million to $4 million in the 30-day group.

ETH in the 24-hour group has 87 long and 92 short accounts, about $35 million long and $630 million short, a long share of 5.3%. Yesterday evening it was 52 long and 152 short, a long share of 9.5%, so the number of long accounts rose while their share of notional fell. In the 7-day group short notional dropped from about $814 million to $625 million, and ETH's unrealized gain in that group grew from about $17 million to $22 million.

By asset, the biggest move in the 24-hour group's long share by headcount among the top 20 by notional came in Hyperliquid (HYPE). HYPE went from 42 long and 102 short accounts (29%) yesterday evening to 114 long and 57 short (67%). By notional, long positions rose from about $16 million to $222 million and shorts from about $168 million to $237 million, taking the long share from 8.8% to 48%. It is at $90.46, up 12.2% over 24 hours, with an unrealized loss of about $9 million in the 24-hour group.

In the 7-day group HYPE went from 52 long and 86 short accounts to 106 long and 62 short, about $221 million long and $236 million short, taking its long share by notional from 22% to 48%; the figure had moved between 6% and 26% in recent editions. HYPE has the largest unrealized loss of any asset in all three groups: about $9 million in the 24-hour group, $6 million in the 7-day group and $48 million in the 30-day group.

A 24-hour group whose long share rose from 7% to 19% does not mean those accounts closed shorts and opened longs. The group is re-selected every hour on one day's performance, so when the accounts that make the ranking change, the direction split changes with them. Over 24 hours HYPE is up 12.2% while BTC is down 3.4%, ETH 4.1% and NEAR Protocol (NEAR) 13.4%, so assets moved in different directions.

The figures also sum only the top-100 positions on four exchanges, so a few large positions can sway the notional split, and holdings on other exchanges or in spot are not counted, leaving any hedging unknown. By notional, only BNB and Monero (XMR) lean long among the top 20 assets in the 24-hour group, and only BNB and kPEPE in the 7-day and 30-day groups. Yesterday evening all of the top 20 in all three groups leaned short by notional. Current positions describe the present, not where the market goes next.

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Disclaimer: This article is provided for informational purposes only, based on public on-chain data, and does not recommend buying or selling any digital asset or any trading direction. The current positions and past performance of top traders do not guarantee future returns. All investment decisions and their consequences rest with the investor.