A whale deposited nearly $20 million in USDC on Hyperliquid before opening a 4x leveraged long position on 20,000 ETH. Within hours, the ether price surged from $1,900 to $2,300, a 20% gain generating $6.66 million in unrealized profit. This position was opened less than one hour before the announcement of doubled long-term Treasury bond purchases by the U.S. Treasury, which triggered over $1.7 billion in short position liquidations. The combination of perfect timing, massive capital, and high leverage has raised insider trading suspicions, especially as similar cases have multiplied in recent months. Hyperliquid’s HYPE token also jumped 25% in 24 hours, approaching $74 near its all-time high.
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