One of the biggest crypto derivatives traders, who made $192,000,000 betting on crypto with an oddly-timed short position has taken more positions in the bearish direction.
The Whale Trader (0xb317) has a $163 Million leveraged perpetual contract on Hyperliquid’s decentralized derivatives trading exchange to short Bitcoin.BTCSunday, September 16th.
It is worth $3.5m in profits, and will be liquidated when BTC hits $125.500.
This entity caught the attention of the crypto community when it opened a short-position just 30 minutes prior to Trump’s announcement about tariffs on Friday. The move sent the cryptocurrency market crashing, but also netted $192 million.
“Insider whale” Those who blame others are liable for their actions.
This entity has been labeled. “insider whale” Crypto community is primarily concerned about the trades opening just before major announcements.
Some people theorize the whales caused a huge leverage flush which crushed 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,” Addendum by Who? “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?
Hyperliquid crashed on Friday and over 250 millionaires lost their status. reported HyperTracker Sunday.
Here’s another bullish trader opened A leveraged position of $11,000,000 in Bitcoin with a 40x increase.
“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
There have been other instances of this. suggested Binance could have been involved in the crash, since its order books and their market maker failed. Stop-loss orders didn’t go through, traders lost money en masse and several tokens went down. reportedly depegged The following are some examples of how to use crashed to zero.
The exchange did issue an update to its users, claiming there had been no crash. “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 has denied the claim that USDE depegging, BNSOL or WBETH led to the recent market crash. However, it offered compensation of around $283M for traders liquidating these assets.
Binance’s native BNB token (BNBThis has been a strong recovery, with a 14% increase in 24 hours.
Magazine: Bitcoin’s ‘macro whiplash,’ Shuffle suffers data breach: Hodler’s Digest
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
