[Satoshi Index] Top Crypto Traders' 24-Hour Long Share Slips to 10% on Hyperliquid, Lighter, dYdX and Pacifica; Zcash (ZEC) 7-Day Accounts Split Evenly

‘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 1:58 p.m. KST on Oct. 31 (4:58 a.m. UTC), the top 100 traders by 24-hour performance on Hyperliquid, Lighter, dYdX and Pacifica combined hold about $283 million in long positions and $2.60 billion in short positions, a long share of about 10%. The figure sums each exchange's top 100 by 24-hour performance separately, by asset.

In this morning's edition (aggregated at 6:48 a.m. KST) the same group held about $337 million long and $2.60 billion short, a long share of 11%. In the roughly seven hours since, long notional fell by $54 million while short notional was little changed. On Hyperliquid prices, comparing 8:41 a.m. with 5:41 p.m. today, Bitcoin (BTC) was essentially flat at $77,286 and $77,255, and Ethereum (ETH) slipped from $2,243 to $2,239, down 0.2%.

The top group by 7-day performance holds about $444 million long and $2.55 billion short, a long share of about 15%. This morning it was 13.6% ($422 million long, $2.69 billion short), so longs rose by $22 million and shorts fell by $136 million. Its unrealized gain went from about $101 million to about $103 million.

The 30-day group holds about $239 million long and $3.04 billion short, a long share of about 7.3%, little changed from 7.6% this morning. Longs fell by $17 million and shorts by $92 million. The long share is 9.8% in the 24-hour group, 14.8% in the 7-day group and 7.3% in the 30-day group, so all three hold more shorts than longs. This morning the 7-day group's share was 2.1 points above the 24-hour group's; now the gap is 5.0 points.

BTC in the 24-hour group has 97 long and 122 short accounts; this morning it was 71 long and 178 short, so the headcount moved toward longs. By notional the group holds about $65 million long and $884 million short. In the 7-day group the 79 long and 148 short accounts hold about $877 million short, down from $907 million, and the 30-day group has 77 long and 168 short accounts with about $908 million short. BTC positions' unrealized gain fell from about $17 million to $13 million in the 24-hour group, and from about $17 million to $16 million in the 7-day group.

ETH in the 24-hour group has 79 long and 82 short accounts, about $75 million long and $528 million short, a long share of 12.4%. This morning it was 63 long and 121 short, a long share of 13.6%. ETH's unrealized gain in this group edged up from about $22 million to $23 million, and in the 7-day group it fell from about $23 million to $21 million.

By asset, the biggest move in the 7-day group's long share by headcount among the top 20 by notional came in Zcash (ZEC). ZEC went from 37 long and 54 short accounts (41%) this morning to 41 long and 42 short (49%), nearly even. By notional, long positions held at about $19 million while shorts fell from about $201 million to $190 million. The 24-hour group has 24 long and 57 short accounts, and ZEC is at $1,263, up 1.1% over 24 hours.

Hyperliquid (HYPE) is at $86.31, down 5.7% over 24 hours. HYPE carries the largest unrealized loss of any asset in all three groups, about $40 million in the 24-hour group and $55 million in the 30-day group. In the 7-day group it has 88 long and 73 short accounts and a long share of 40.1%, up from 37.9% this morning.

A 24-hour group whose long share moved from 11% to 10%, and a 7-day group from 14% to 15%, does not mean those accounts changed their positions. The groups are re-selected every hour on performance over each window, so when the accounts that make the ranking change, the direction split changes with them. Over 24 hours BTC is down 0.8% and ETH up 0.6%, small moves, while HYPE is down 5.7% and Solana (SOL) down 2.0%.

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. In the 24-hour group only BNB among the top-20 assets leans long by notional, in the 7-day group only Monero (XMR), and none do in the 30-day group. 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.