Original | Odaily Planet Daily (@OdailyChina)
Author | Wenser (@wenser 2010)
In the recent market turbulence, the most outstanding traders are undoubtedly those who seek excess profits through frequent contract openings and closings on Hyperliquid. Amid the fluctuations of mainstream cryptocurrencies like BTC and ETH, they always seem to be the first to discover the trend direction, quickly open positions, and accurately exit, earning them the title of “Insider Brother” amid jealousy and skepticism in the community.
Currently, some retail investors have regarded them as “opening indicators” and have achieved practical success in following their trades. In light of this, Odaily Planet Daily will briefly summarize the operations of profit-making whales on the Hyperliquid platform and the addresses to observe for readers’ reference.
Hyperliquid Becomes the New Goldmine: Monthly Trading Volume Grows Over 4 Times in 6 Months
After experiencing the baptism of political meme coins like TRUMP, MELANIA, and LIBRA, the meme phase of the cryptocurrency market has temporarily passed. In its place, the on-chain contract market has become the latest goldmine for countless traders.
In early February, a report by Messari indicated that Hyperliquid’s monthly trading volume had increased over 4 times since October 2024, demonstrating the platform’s rapid rise in the decentralized trading market. Hyperliquid has cultivated a group of high-value, continuously active trading users, becoming the only Layer 1 alternative with a clearly defined core user group in the market.
In late February, Hyperliquid’s official announcement stated that the HyperEVM mainnet is now live, introducing universal programmability into Hyperliquid’s high-performance financial system. The initial release of the mainnet includes: HyperEVM blocks built as part of L1 execution inheriting all the security of HyperBFT consensus; spot transfers between the native HYPE and HyperEVM HYPE; and a standardized WHYPE system contract applicable for DeFi applications.
Meanwhile, on February 22, Degen News cited DeFiLlama data on the X platform, stating that over the past 24 hours, HyperliquidX protocol revenue reached 2.46 million USD, surpassing pump.fun to rank third, only behind the two major stablecoin issuers, Tether and Circle. It must be said that perhaps the trend was already emerging at that time.
According to Dune data, as of March 7, Hyperliquid’s number of unique users approached 400,000, with a cumulative transaction count reaching 53 billion. The platform’s cumulative trading volume exceeded 1.9 trillion USD.
Since February, many large holders have achieved remarkable results on Hyperliquid, with profit scales ranging from hundreds of thousands to tens of millions of USD. Under the banner of “On-chain Binance,” Hyperliquid has become a “winning land” with substantial trading depth in the volatile monkey market.
Whale “Insider Trading” Operations Summary: BERA, BTC, ETH, and More Within Range
Whale Operation: Shorting BERA for a Profit of 589,000 USD in 2 Hours
In early February, according to Lookonchain monitoring, a whale earned 589,000 USD by shorting BERA in less than 2 hours after its launch; this whale deposited 1.6 million USD into Hyperliquid 16 hours prior and shorted BERA at a price point of 13 USD, realizing a profit of 589,000 USD.
Observation URL: https://hypurrscan.io/address/0x0eC0A15e5763ED97A85e860fDCCd7D1e082b5AA9
It is worth mentioning that this address has currently liquidated its positions.
Whale Operation: 50x Leverage Shorting ETH with Unrealized Gains Over 62.4 Million USD
At the end of February, according to Onchain Lens monitoring, a whale used 50x leverage to short ETH on HyperLiquid, with unrealized gains exceeding 62.4 million USD at that time.
Observation URL: https://hypurrscan.io/address/0x20C2d95a3Dfdca9e9AD12794D5fa6FaD99dA44f5
Currently, this address still holds 98 million USD in contract positions.
Suspected Insider Brother: Long ETH and BTC During a Major Drop, with ETH Position Reaching 88,500 Units and 24-Hour Profit of 6.83 Million USD
According to on-chain analyst Ai Yi’s monitoring, the 88,510 ETH long position of a 50x long user on Hyperliquid has been fully liquidated for profit, and now they are starting to take profits on Bitcoin, with 315 BTC remaining.
This address previously opened a long position of over 200 million USD with a principal of 6 million USDC. Among them, ETH: 49,384 units, opening price 2,196 USD, liquidation price 2,133.9 USD; BTC: 1,260 units, opening price 85,671 USD, liquidation price 84,629 USD. Subsequently, the address further increased its long position by 914 ETH and 41 BTC.
The subsequent story is well-known; Trump directly called out XRP, SOL, ADA, BTC, and ETH, stating that he would soon establish a cryptocurrency reserve. Due to this news, the address once had unrealized gains of 6.46 million USD. Because the timing of the opening and the liquidation point were too extreme, many people in the market speculated that this could be an insider close to Trump. Although this view was later refuted by Coinbase executive Conor Grogan, who stated that the source of their funds was from phishing scams, the truth remains unknown.
Currently, this address has fully liquidated its positions.
Observation URL: https://hypurrscan.io/address/0xe4d31c2541A9cE596419879B1A46Ffc7cD202c62
Insider Brother’s Follow-up Actions: Opening a 13.45 Million USD Bitcoin Short Position
In early March, according to ai_9684 xtpa’s monitoring, 20 minutes before the US stock market opened, the “Hyperliquid 50x leverage long BTC and ETH whale” opened a 13.45 million USD Bitcoin short position, still with 50x leverage, at a sensitive timing, but transitioned from long to short with a considerably smaller position; the opening price was 93,117.5 USD, liquidation price 94,083 USD, at one point showing an unrealized loss of 60,000 USD. However, it quickly turned around, and the address ultimately exited with “nearly 300,000 USD in profit.”
Institutional Operation: 50x Leverage Opening a 139 Million USD ETH Short Position, at One Point with Unrealized Gains of 78.19 Million USD
On March 4, according to Hypurrscan data, a whale opened a 139 million USD ETH short position on Hyperliquid with 50x leverage, showing unrealized gains of 78.19 million USD, with a liquidation price of 3,507 USDT. Subsequently, it was learned that this position was actually opened for the stablecoin USR maintenance protocol Resolv Labs.
Observation URL: https://hypurrscan.io/address/0x20c2d95a3dfdca9e9ad12794d5fa6fad99da44f5
Currently, this address has a contract position valued at approximately 97 million USD.
Suspected Insider Brother’s Sleight of Hand: 50x Leverage Long ETH, 215,000 USD Profit in 40 Minutes
This afternoon, according to on-chain analyst Ai Yi’s monitoring, the “Hyperliquid 50x leverage long BTC and ETH whale” deposited 1.95 million USDC as margin and opened a 50x ETH long position, holding 27,809 ETH (approximately 57.88 million USD), with an opening price of 2,057.49 USD and a liquidation price of 2,008 USD.
Shortly after opening the position, ETH surged to a high of 2,149 USD, and ultimately, they liquidated all positions for profit, achieving a profit of 215,000 USD in less than 40 minutes. As of now, they have accumulated a total profit of 928,000 USD through three leveraged trades.
Observation URL: https://hypurrscan.io/address/0xf3F496C9486BE5924a93D67e98298733Bb47057c
Whale Operation: 4.06 Million USDC Long BTC, Unrealized Gains of 589,000 USD
On March 6, according to Lookonchain monitoring, a dormant wallet sold 1,863 ETH at an average price of 2,181 USD, gaining 4.06 million USDC. Subsequently, this address deposited 4.06 million USDC into Hyperliquid and used 20x leverage to long BTC at a price of 89,930 USD, with unrealized gains of 589,000 USD and a liquidation price of 75,186 USD.
Observation URL: https://hypurrscan.io/address/0x523b21F469825D0104ac6A3c762a955EeDb75e5B
Conclusion: Eating Meat and Drinking Soup, All Depends on Speed
At present, it appears that the suspected Insider Brother has an unusually high success rate in both long and short operations. Whether they are hackers involved in phishing scams or insiders colluding with whales cannot be ruled out.
Given that Hyperliquid’s infrastructure is still immature, current followers rely heavily on speed. Odaily Planet Daily here reminds readers that in times of unclear market trends, leverage should be used cautiously, and risk control should be prioritized before choosing the “big brother.”
This article is authorized for reprint from Odaily Planet Daily.