Whale Scores Millions In SOL Short As On-Chain Data Shows High-Frequency Trading On HIP-2
The post Whale Scores Millions In SOL Short As On-Chain Data Shows High-Frequency Trading On HIP-2 appeared on BitcoinEthereumNews.com.
Whale gains $4M+ from BTC and SOL shorts via high-leverage trading on DeFi protocols. SOL short exit in progress after $1.77M profit and $121K in funding earned. ETH short lags with $141K loss despite funding gains, showing mixed strategy results. A high-stakes crypto trader has recorded millions in profits from strong short positions across Solana (SOL), Bitcoin (BTC), and Ethereum (ETH). On-chain activity reveals fast-paced trading behavior on decentralized protocols. The wallet, labeled 0x5b5d5120…F298C060, maintains a leveraged trading strategy totaling $57.66 million in notional value, exclusively allocated to perpetual contracts on the Hyperliquid and HIP-2 protocols. No funds are currently allocated to spot assets, staking, or vaults, reinforcing the account’s singular focus on derivatives. Data from the HIP-2 protocol highlights a series of rapid trades executed on the SOL-USD pair. In a time span slightly exceeding 100 seconds, the wallet performed multiple short trades, each ranging from 44.79 to 58.66 SOL. The trades, valued between $9,993 and $9,999, were opened and closed almost instantly, reflecting a consistent trading volume at a token price of approximately $170.80. These short bursts of activity point to algorithm-driven trading or execution testing aimed at capturing narrow price fluctuations. The repetitive nature of the trades, involving the same asset and similar volumes, suggests a coordinated pattern rather than random behavior. The HIP-2 data confirms that the wallet has not engaged with other trading products, such as staking or vault participation. SOL Short Now Being Closed for Gains The whale has begun exiting the SOL short position, indicating a move to secure profits. The original short totaled -357,433 SOL at an average entry of $175.13. With SOL now trading at $170.18, the unrealized profit is roughly $1.77 million. The trade has also earned $121,731 in funding rewards. The recent flurry of activity observed on HIP-2, consisting…
Filed under: News - @ May 16, 2025 5:28 am