A whale deposited $3.56 million in USDC on Hyperliquid, a decentralized perpetual exchange, and immediately opened a 4x leveraged long position on 36,000 XMR tokens. The notional value of this trade amounts to approximately $14.33 million, with take-profit targets set between $475 and $516, representing an expected rally of 20% to 30% from the entry level of $395 to $400. XMR has gained nearly 10% over the past week, trading in a range between $393 and $402. This transaction illustrates the growing use of decentralized exchanges to trade XMR, whose access to traditional spot markets continues to shrink due to delistings by several major centralized platforms.
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