Whale on Hyperliquid goes long across altcoins as traders eye a rebound
The post Whale com. After the recent crypto market downturn, assets quickly attempted a small recovery. A Hyperliquid whale has moved in with long bets on a basket of altcoins. A Hyperliquid whale injected over $3. 6M to go long on a selection of altcoins. While the market is still volatile and sentiment is low, the whale bets on a directional move, or at least a short-term recovery. A Hyperliquid whale made a selection of altcoins, allocating $3. 6M on long positions. The whale chose trending tokens, as well as riskier memes with the potential for a rapid recovery. The whale selected blue chip tokens like ETH and BNB, as well as recently active coins like LTC. The mix also included meme tokens, expecting a directional move for FARTCOIN, PEPE, BONK, PNUT, and POPCAT. The whale also took up new movers like ASTER and MET, but also an older asset, AVAX, in expectations of a breakout. The whale’s selection signals that a market-wide rally may not be possible, but some altcoins are still seen as capable of moving forward with clear moves. The whale holds onto the positions, with an unrealized loss of $276K net, offset by some of the smaller altcoin gains. Hyperliquid whale bets on HYPE Overall, the whale carried a net unrealized loss, mostly based on the performance of HYPE. The position carried an unrealized loss of $293K, while the whale paid over $8,400 in fees to keep holding. HYPE traded at $38. 49, near its usual range, still awaiting a more significant breakout. HYPE open interest fluctuates around $1. 4B, after a series of liquidations. HYPE carries over 68% long positions among Hyperliquid whales, in the third spot after BTC and ETH. The coin has constant support from traders, despite its mindshare dropping by over 46% recently. The return of whales.