[Satoshi Index] Top Crypto Traders' 24-Hour Long Share Drops From 64% to 16% on Hyperliquid, Lighter, dYdX and Pacifica as Worldcoin Long Share Falls

‘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 6:47 a.m. KST on Nov. 2 (9:47 p.m. UTC on Nov. 1), the top 100 traders by 24-hour performance on Hyperliquid, Lighter, dYdX and Pacifica combined hold about $363 million in long positions and $1.97 billion in short positions, a long share of about 16%. The figure sums each exchange's top 100 by 24-hour performance separately, by asset.

In yesterday evening's edition (aggregated at 3:51 p.m. KST on Nov. 1) the same group held about $774 million long and $428 million short, a long share of 64%. In the roughly 15 hours since, long notional fell by $411 million and short notional rose by $1.54 billion. On Hyperliquid prices, comparing 5:41 p.m. yesterday with 8:41 a.m. today, Bitcoin (BTC) moved from $78,137 to $78,296, up 0.2%, and Ethereum (ETH) from $2,272 to $2,274, up 0.1%, so prices were nearly unchanged.

The top group by 7-day performance holds about $440 million long and $2.40 billion short, a long share of about 15.5%, close to yesterday evening's 16.2%. Its unrealized gain went from about $86 million to about $96 million.

The 30-day group holds about $288 million long and $3.02 billion short, a long share of about 8.7%, the same as yesterday evening. Yesterday evening only the 24-hour group held more longs than shorts; in this edition the long share is 15.6% in the 24-hour group, 15.5% in the 7-day group and 8.7% in the 30-day group.

BTC in the 24-hour group has 113 long and 99 short accounts; yesterday evening it was 134 long and 63 short, so the short headcount grew. By notional the group holds about $127 million long and $469 million short, a long share of 21%, versus 77% yesterday evening. In the 7-day group the 90 long and 140 short accounts hold about $815 million short, down from $843 million, and the 30-day group has 82 long and 169 short accounts with about $914 million short.

ETH in the 24-hour group has 96 long and 95 short accounts, about $87 million long and $432 million short, a long share of 17%. Yesterday evening it was 115 long and 53 short, a long share of 82%. ETH's unrealized P&L in this group went from a loss of about $7 million to a gain of about $4 million, and the 7-day group's gain edged up from about $16 million to about $17 million.

By asset, the 7-day move in Worldcoin (WLD) was the largest. Yesterday evening it had 29 long and 36 short accounts, a long share of 45% by headcount; in this edition it has 16 long and 54 short, or 23%, the largest change among the top-20 assets checked. In the 7-day group WLD holds about $1.1 million long and $16.6 million short. In the 24-hour group it has 12 long and 52 short accounts, and it is at $0.3923, down 1.7% over 24 hours.

In the same 24-hour group NEAR Protocol (NEAR) has 22 long and 71 short accounts, versus 35 long and 26 short yesterday evening, when its long share by notional was 86%; it is now 6.5%. Hyperliquid (HYPE) has 41 long and 83 short accounts, about $8.8 million long and $243 million short. It is at $87.86, essentially flat over 24 hours, and carries the largest unrealized loss of any asset: about $25 million in the 24-hour group and $39 million in the 30-day group.

A 24-hour group whose long share moved from 64% to 16% 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. Short-window rankings tend to lift the traders who were on the right side of that window's price moves. In the 24-hour group none of the top 20 assets by notional leans long in this edition, versus 16 of 20 yesterday evening.

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. The 24-hour group's total notional in this edition is about $2.3 billion, nearly double yesterday evening's $1.2 billion. 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.