An address beginning with 0xa31 has spent the week leaning hard against the alt-market on Hyperliquid.
Since 12 June the trader has opened shorts on 16 different tokens worth a combined $57.5 million and is already sitting on roughly $3.56 million in unrealised gains—plus another $2.27 million collected in funding fees.
Most of the downside bet is aimed at large-cap names such as ETH, DOGE, PEPE and XRP. So far DOGE has delivered the biggest win at $2.49 million, with the XRP position close behind at $1.41 million.
The lone outlier is a short on HYPE, currently underwater by about $3.19 million.
Alongside the headline names, the whale is also short smaller or novelty tokens including PEPE, FARTCOIN, LEFT, SUI, INIT, LAUNCHCOIN, PENGU, WLD, POPcat, LTC and MOODENG, as well as Bitcoin itself, bringing the running tally to sixteen separate positions—fourteen of which are in the black at press time.
XRP is back in the spotlight after crypto analyst EGRAG CRYPTO highlighted a powerful historical pattern on the weekly timeframe—the bullish crossover of the 21 EMA and 55 SMA.
Crypto markets are buzzing with momentum as several altcoins post double-digit gains and surging volumes.
Sui (SUI) surged 14% in the past 24 hours, reaching $4.26 as bullish technical patterns, Bitcoin’s rebound, and renewed ETF speculation pushed the altcoin higher.
Hedera Hashgraph (HBAR) is closely tracking its 2021 price behavior, according to crypto analyst Rekt Capital.