Hyperliquid News Today: Hyperliquid's 0x9ee Whale Makes $241M in Bold ETH and ASTER Wagers

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Hyperliquid News Today: Hyperliquid's 0x9ee Whale Makes $241M in Bold ETH and ASTER Wagers

Bitget-RWA2025/11/17 04:08

By:Bitget-RWA

- Hyperliquid's largest ZEC short position incurred $21M in unrealized losses amid crypto market volatility. - HYPE token fell below key levels as liquidity challenges worsened after a $5M market maker loss from Popcat manipulation. - Whale address 0x9ee holds $241M in ETH/XRP long positions and a 3x ASTER short with mixed $13.7M unrealized gains/losses. - Abraxas Capital shifted from ASTER shorting to long positions, generating $750K profits amid shifting market sentiment. - HYPE faces technical breakdown

Hyperliquid's largest

ZEC

short position is now facing unrealized losses exceeding $21 million, as the decentralized exchange (DEX) focused on perpetual contracts contends with heightened market volatility. This position, initiated when ZEC was valued close to $180, highlights the unpredictable nature of crypto derivatives, where leveraged trades are increasingly vulnerable to sharp price movements. This situation unfolds as Hyperliquid's native token, HYPE, continues to decline, breaking through important technical thresholds and

approaching crucial support levels

The DEX's liquidity strains have intensified following a recent incident where its market maker, Hyperliquid Provider (HLP), suffered a $5 million loss. This event involved a Popcat (POPCAT) trader who reportedly spread $3 million across 19 wallets to artificially boost bid prices near $0.21 before opening $30 million in long positions.

Hyperliquid News Today: Hyperliquid's 0x9ee Whale Makes $241M in Bold ETH and ASTER Wagers image 0

When the engineered buy wall collapsed

, HLP was compelled to exit at unfavorable prices, absorbing significant losses and exposing the delicate nature of liquidity in rapidly changing crypto markets.

At the same time, Hyperliquid's ecosystem has witnessed increased activity from large holders across several tokens. One address, tagged "0x9ee," has become the largest long position holder in ETH and

XRP

while also maintaining a "3x short" stance on

ASTER

. This whale's ETH position alone represents $145 million in notional value and is currently down $4.9 million, while the ASTER short is up $8.1 million in unrealized gains. Altogether, this address is exposed to $241 million, reflecting a bold, high-stakes approach in a fragmented market

as noted by market analysts

Other significant participants are also adjusting their Hyperliquid strategies. Abraxas Capital, through addresses 0x5b5 and 0xb83, has shifted from shorting ASTER to accumulating long positions, now holding $8.16 million in ASTER with $750,000 in unrealized gains.

Such actions indicate

a possible change in outlook toward lower-cap tokens, despite persistent macroeconomic challenges.

HYPE, Hyperliquid's token, is under further downward pressure as technical signals worsen. The token has dropped below its 200-day exponential moving average (EMA) and

is at risk of falling through the $35 support mark

, a level last tested on November 4. With a Relative Strength Index (RSI) of 43 and a bearish MACD crossover, ongoing selling pressure is evident, and further declines are likely if the $35 threshold does not hold.

The DEX's recent suspension of its

Arbitrum

bridge, which does not impact deposits or withdrawals, has nonetheless heightened investor unease. Coupled with a 38% reduction in HYPE futures open interest since October 30, these developments point to declining retail participation and a broader move toward caution in crypto derivatives trading

as highlighted by market analysts

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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