A cryptocurrency whale has deployed 3.25 million USDC to initiate a leveraged short position against Ethereum (ETH) on the Hyperliquid derivatives exchange. The bearish bet targets 11,241 ETH worth approximately $33.03 million at an average entry price of $2,935 per token.
The position utilizes 25x leverage, significantly amplifying both potential gains and liquidation risks. According to on-chain data, the trade would face automatic liquidation if Ethereum’s price climbs to the $3,135 threshold. This substantial leveraged position highlights ongoing institutional activity within cryptocurrency derivatives markets.