"20 million Wave Hunter" has accumulated a profit of $104 million since October and is now the largest on-chain ETH and HYPE short position.

BlockBeats News, December 24 — According to Hyperinsight monitoring, over the past 6 hours, “20 million wave hunter” (0x880a) has been continuously closing ETH, HYPE, and other multi-coin short positions. Currently, the ETH short position size is approximately $68.3 million, with an average price of $3,132 and a liquidation price of $3,767; the HYPE short position size is about $41.97 million, with an average price of $31.7 and a liquidation price of $34.27. Its total position size is approximately $111 million, making it the largest ETH and HYPE short whale on Hyperliquid. This address has been engaged in high-frequency multi-coin wave trading for a long time, with an average holding time of about 20 hours. Since October, it has achieved profits of over $104 million with an initial capital of about $20 million, with today’s profit reaching $1.3 million. Previously, this address’s positions were mainly concentrated in short positions on coins such as PUMP, PAXG, and HYPE, accounting for 83.6% of the total holdings. Recently, it has shifted its focus to ETH and HYPE short positions, which together account for 98.6%.