Whale activity in the cryptocurrency market has intensified significantly in recent hours. On-chain data reveals both leveraged position openings and large-scale transfers and sales.
A newly created wallet was found to have deposited $8 million worth of USDC into the Hyperliquid platform and opened multiple long positions. The wallet was found to have taken long positions with 10x leverage in XPL and PUMP tokens, 5x leverage in MON, and 3x leverage in VVV, STBL, STABLE, IP, HEMI, GRIFFAIN, MAVIA, and AIXBT tokens.
On the other hand, it was also noteworthy that another newly opened wallet withdrew 5,798 ETH (approximately $17.24 million) from the centralized exchange Kraken and transferred it to a different wallet. Six months ago, a whale purchased 750 million PUMP by spending 3 million USDC across two separate wallets in a public sale. Approximately an hour ago, this whale invested the entire 750 million PUMP ($1.47 million) in Hyperliquid. It is estimated that if this whale were to sell all of the assets, they would suffer a loss of $1.53 million (-51%).
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