$20 million swing trader's big move: HYPE's largest short position with a floating profit of nearly $10 million, weekly profit of $30.5 million

【BlockBeats】On-chain monitoring data shows that an active swing trader (0x880a) recently adjusted their position strategy. Known as the “20 million swing hunter,” this trader has gradually closed short positions in HYPE and XPL over the past 6 hours, but still maintains a $38.2 million HYPE short on the Hyperliquid platform, with an average price of $31.3 and a liquidation price of $42.7. They remain the largest HYPE short.

Interestingly, this address previously bet all chips on ETH and HYPE shorts, with both accounting for up to 98.6%. Recently, they’ve become smarter, diversifying funds into shorts on multiple tokens like BTC, SOL, and kPEPE. The total account holdings have increased from $111 million ten days ago to $149 million now.

Let’s look at the current main holdings: a 12x leveraged ETH long position of $62.89 million, with an average price of $3,108, and a floating profit of $400,000; a 5x leveraged HYPE long of $37.60 million, with an average price of $31.3, and a floating profit of $8.33 million; an 11x leveraged BTC long of $14.76 million, with an average price of $91,800, and a floating profit of $250,000.

This trader’s approach is very high-frequency, with an average holding period of only 20 hours. Since October last year, with a principal of $20 million, they’ve earned nearly $100 million, effectively multiplying their principal fivefold. This morning, the market surged, reducing floating profit by $9.55 million, but they still hold a steady $9.5 million in floating profit. Their performance over the past week is even more impressive—$30.5 million in profit.