Movimentos de Baleias na Hyperliquid: Milhões em Alavancagem e Padrões Misteriosos que Não Batem Certo

Hyperliquid just crossed $7.7 billion in open interest after a wild ride—but here’s what’s catching traders’ eyes: the whale activity on this platform is getting weirder by the day.

The Numbers That Matter

Round-the-clock whale shorts dominating Hyperliquid. Over $5 billion in total open positions, with some individual positions exceeding $1 billion. We’re talking 10x+ leverage on Bitcoin and Ethereum, all funded by USDC stablecoins. One whale reportedly banked $190M during a recent market dip—not bad for a few hours of shorting.

During the last major liquidation cascade, $19 billion went up in smoke across markets. Hyperliquid had a hand in that too, with a single $203 million ETH-USDT liquidation making headlines.

Here’s Where It Gets Suspicious

On-chain detectives linked some of these whales to Garrett Jin, formerly CEO of BitForex—the guy who got caught up in fraud accusations and market manipulation allegations. That raised eyebrows. But the real kicker? Timing.

Some of these whales were executing massive short positions right before market-moving events. Trump’s tariff announcements? They were already positioned. The precision felt less like “lucky trading” and more like someone had a heads-up.

The Satoshi-Era Cartels

Then there’s the Bitcoin from the Satoshi era. Some of these whale addresses hold coins from the earliest Bitcoin days—which fueled speculation about government connections or insider networks. Probably conspiracy talk, but the trading patterns keep reinforcing the narrative.

What This Means for You

Whale-sized liquidations can trigger cascading losses for retail traders. When a $1 billion position gets nuked, the price moves don’t discriminate—retail longs get liquidated alongside. The platform’s lack of transparency on exactly what went down during recent crashes didn’t help the narrative either.

Hyperliquid’s decentralized setup attracted these big players, but that same structure is now under pressure to prove it’s not just a playground for insider trading and market manipulation.

The Bottom Line

Billions in leverage, mysterious whale wallets, perfectly-timed shorts before major announcements, and a platform playing coy about transparency—welcome to DeFi’s wild west. As retail traders navigate this minefield, understanding whale behavior isn’t optional anymore; it’s survival.