One of the biggest crypto derivatives traders, who made $192 million in recent months by betting on crypto with an oddly-timed short position has taken more positions that are bearish.
A whale trader (0xb317) from the Hyperliquid, a decentralized derivatives market has entered into a leveraged permanent contract for $163,000,000 to short Bitcoin.BTCSunday, September 16th.
This 10x leveraged trade is valued currently at $3.5million in profit. However, it will liquidate if BTC rises to $125,500.
After opening a position of short just 30 mins before Trump announced his tariff announcement, the entity received attention from the crypto-community. Trump’s announcement sent the market into a tailspin but they made $192m in profit.
“Insider whale” The blame
Labelling the entity “insider whale” Crypto community is astonished by the timing of trades that open just minutes prior to a big announcement.
Some people theorize the whale’s actions caused a huge leverage surge that crashed the crypto markets at the weekend.
“The crazy part is that he shorted another nine figures worth of BTC and ETH minutes before the cascade happened,” said Observer “MLM,” Who added? “And this was just publicly on Hyperliquid, imagine what he did on CEXs or elsewhere.”
“I’m pretty sure this guy played a huge role in what happened today.”
Related: Crypto derivatives funding rates drop to 3-year lows: A bullish sign?
Since Friday, over 250 wallets have lost their millionaire status. reported HyperTracker Sunday.
Another bullish trader opened Long Bitcoin position leveraged 40x with $11 million.
“Crypto people are realizing today what it means to have unregulated markets: Insider trading, corruption, crime, and zero accountability,” commented SWP Berlin researcher Janis Kluge.
Binance denies its role in the market crash
The same has been said about the sand. suggested Binance’s order book and market maker failed to execute stop losses, traders liquidated in masse and many tokens were affected. reportedly depegged The following are some examples of how to use crashed to zero.
The exchange did issue an update claiming there had been no crash as it was not a “display issue.”
“We are aware of speculation in the market regarding the causes of this event, with some focusing on the role of the Binance platform,” The company stated Sunday is a holiday.
The event confirmed the presence of the API and core Futures matching engines. “remained operational.”
Binance denies that depegging USDE, BNSOL, and WBETH was the cause of the crash in the markets, but has offered $283m to compensate traders who had these assets held as collateral, which were then liquidated.
Binance’s native BNB token (BNBThe price of ) has rebounded strongly. It jumped 14% in the last 24 hours, surpassing $1300 once again.
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Source: cointelegraph.com
