The BTC whale just withdrew 37.9M XPL ($28.9M) from Hyperliquid to the wallet holding $230M USDC - confirming my earlier thesis that it’s all the same entity (see quote post).

https://plasmascan.to/address/0x4f9A37Bc2A4a2861682c0e9BE1F9417Df03CC27C

He also sent another $30M USDC to Binance and now holds $204M USDC in that wallet onchain.

https://arbiscan.io/tx/0xe68e4d3a6e39ce5ba8f4389b0031625c859957fa1adbcff9030cfb79584dc2af

If it wasn’t obvious - this is all the same entity that sold billions worth of BTC for ETH a few weeks ago.

A cluster holding 2.17M HYPE ($93.4M) unstaked 743,013.42 HYPE ($32.2M) around 12 hours ago. The rest remains staked - except for 30.6K HYPE ($1.3M), which was never staked for some reason.

The wallets trace back to a SOL whale who received 1M SOL at TGE ~5 years ago, later selling their SOL staking rewards to rotate into HYPE.

https://solscan.io/tx/4JXc2i8Fnpww4sEkCSnWqQn7SEnWU3WDC9FkiuBaeQAQj3irmzqkCmJPJnDgbxGYJt1q2axJ66tUvvbbTRnSsf69

MLM believes this is the same entity that sold 5.07M HYPE ($218M) last week.

https://hypurrscan.io/address/0x2058bcf5cecbac4ac91393fe18655ea338979797

https://hypurrscan.io/address/0xea8f34a15f523523728291aa7ac4d758da013dc1

https://hypurrscan.io/address/0x3c238634776662eae51dbb98ff7b624eb4cb5789

https://hypurrscan.io/address/0xa7067e68855944b6997d01a4b80b348fa47bfa5e

https://hypurrscan.io/address/0x518c447fa619f07e720a97a745e630c40b36083e

https://hypurrscan.io/address/0x756bde7e4726e0bb1cfbae3de3d3cc46b13d6441

The whale who sold 5.07M HYPE two weeks ago and rotated part of it into Aster just withdrew $30M USDT0 from Aster over the past few hours, bridged it back to Hyperliquid, and bought 169.34 BTC ($20.6M).

Still holding $9.4M USDC on Hyperliquid - doing nothing (for now).

https://hypurrscan.io/address/0xf9dda42b8ab6e1cc5694638cffe494c14af24f2a

https://hypurrscan.io/address/0xfe7c1383cd21267cf0bd1243ce0c1f1010f659f8

https://hypurrscan.io/address/0x1d8f930e9e00789d2a36f9390e30482ef21469aa

https://hypurrscan.io/address/0x9d4d6af75bbb1f814f4e946c7366625b64b7bc2d

The BTC whale moved $30M USDC to one of the wallets he used a few weeks ago to rotate billions worth of BTC into ETH about 4 hours ago - and shorted 55.5K ETH ($241M).

https://x.com/mlmabc/status/1976540159454683338

Silhouette acquired the $iZEC ticker on Hyperliquid.

https://hypurrscan.io/tx/0x7737cacf140fecee78b1042d2a004602093a00b4af030bc01b007621d303c6d9

Technorevenant borrowed $4M USDT0 against 625K HYPE ($28M) on Hyperlend, transferred it to Hypercore, and shorted $1.6M worth of $MON (Monad) on the premarket - pushing prices down ~10%.

https://hypurrscan.io/address/0x65087b28344be6356fdf102ff53f5c39bd68fb25

https://hyperevmscan.io/address/0x36d2f33f0e3002ae59d2173fa62ab49aeb7ab1b1

HLP is currently long $6.8M worth of $WLFI after it dumped 30% in just 2 minutes, liquidating a bunch of traders. So far, the position is up over $200K in profit.

https://app.hyperliquid.xyz/vaults/0xdfc24b077bc1425ad1dea75bcb6f8158e10df303

During the crash, Hyperliquid stayed fully operational while HLP made over $40M in profits on the day - pushing the APR to ~190% and generating roughly 10–12% returns on total capital.

https://x.com/mlmabc/status/1976767938163359765

the btc whale knew something

check this

Just in: Hyperliquid generated nearly $20M in fees today - all of which is used to buy back $HYPE.

ABC, the top market maker on Hyperliquid, lost over $35M today - wiping out 73% of the account.

They’re still up $22M all-time on Hyperliquid, with more than $433B in total trading volume.

On most days, ABC accounts for 20-25% of Hyperliquid’s total volume.

https://hypurrscan.io/address/0x162cc7c861ebd0c06b3d72319201150482518185

Btw the $10B number is fake, already $7B liquidated on Hyperliquid alone. Sharing the data soon

The 2.17M HYPE ($87M) cluster unstaked another 1,084,556.09 HYPE ($43.4M) a few hours ago.

He has now unstaked a total of 1,827,569.51 HYPE ($73.1M) this week - likely preparing to sell.

https://hypurrscan.io/address/0x3c238634776662eae51dbb98ff7b624eb4cb5789

https://hypurrscan.io/address/0xa7067e68855944b6997d01a4b80b348fa47bfa5e

https://hypurrscan.io/address/0x518c447fa619f07e720a97a745e630c40b36083e

https://hypurrscan.io/address/0x2058bcf5cecbac4ac91393fe18655ea338979797

https://hypurrscan.io/address/0xea8f34a15f523523728291aa7ac4d758da013dc1

https://hypurrscan.io/address/0x756bde7e4726e0bb1cfbae3de3d3cc46b13d6441

Selini Capital lost between $15M and $16M on Hyperliquid last night.

https://hypurrscan.io/address/0xff4cd3826ecee12acd4329aada4a2d3419fc463c

Most of it from three sub-accounts that were liquidated for $50–70M combined:

https://hypurrscan.io/address/0x34fb5ec7d4e939161946340ea2a1f29254b893de

https://hypurrscan.io/address/0x621c5551678189b9a6c94d929924c225ff1d63ab

https://hypurrscan.io/address/0xaf9f722a676230cc44045efe26fe9a85801ca4fa

This makes them the 12th largest loser on Hyperliquid over the past 24 hours.