A certain whale address staged a calm high-stakes gamble on the Hyperliquid platform—after activating the account with 8 million USDC collateral, it quickly launched a long attack. This operation targeted approximately $13.76 million worth of assets, involving 11 tokens including IP, XPL, STBL, MON, PUMP, GRIFFAIN, VVV, AIXBT, HEMI, MAVIA, and STABLE.

The most interesting part is the leverage configuration. The trader did not allocate risk evenly but instead bet on these Meme coins and small-cap tokens with leverage ranging from 60 to 200 times. In other words, with a principal of 8 million, they leveraged a nominal position of over $1.3 billion—such an aggressive move is indeed rare in on-chain trading.

Looking at the timing, choosing to do this on the first day of the new year suggests either extreme confidence in the market direction or a test of Hyperliquid’s liquidity depth. Such large long positions are usually closely watched by market participants, as the whale’s every move often indicates the short-term price trend.