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Wallet Opens $25.67 Million in Leveraged Bitcoin and Ether Positions

The address used 20x leverage on both sides, going long 169.47 Bitcoin (BTC) and short 5,740 Ether (ETH).

By Enna Lee
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Mentioned assets
Two metal tokens balance on opposite ends of a precision scale / TokenPost.ai
Two metal tokens balance on opposite ends of a precision scale / TokenPost.ai

A wallet deposited about $6.92 million in USDC on Hyperliquid before opening two 20x leveraged perpetual positions: a Bitcoin long and an Ether short. Together, the positions had a notional value of about $25.67 million.

The funds came after the wallet received 3,100 Ether from Tornado Cash and converted the coins into about $6.92 million in USDC. It then deposited the USDC on Hyperliquid.

The Bitcoin (BTC) long covered 169.47 BTC and had a notional value of about $12.84 million. The Ether (ETH) short covered 5,740 ETH and had a notional value of about $12.83 million.

The notional values were nearly equal, while the positions pointed in opposite directions across the two assets.

Enna Lee

Reporter

Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.

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