A whale deposited $8.8 million USDC into Hyperliquid and opened a $7.6 million short position in HYPE.

CoinFeed reported on May 15th that, according to Lookonchain monitoring, the wallet address "0x519c," which had been inactive for a month, deposited $8.8 million USDC into Hyperliquid and shorted 175,082 HYPE tokens with 10x leverage, a position worth approximately $7.62 million. Data shows that this whale is still continuing to increase its short position in HYPE.