A significant cryptocurrency investor deposited 3.74 million USDC into the HyperLiquid perpetual futures exchange.
The deposited capital was utilized to open a substantial leveraged short position targeting Ethereum (ETH).
The position employs 15x resulting in a not resulting in a notional value of $54.95 million.
The whale entered the ETH short position at an average price of $2,986.18.
This large-scale leveraged bet represents a strategic move signaling bearish sentiment towards Ethereum’s near-term price trajectory.