A whale on HyperLiquid used its capital advantage to squeeze the shorts, causing funding rate distortion and significant price volatility

By: theblockbeats.news|2025/11/25 10:45:52

Share

copy

BlockBeats News, November 25th, according to MLM Monitor, a whale deposited 32 million USDC into HyperLiquid, used TWAP to sweep the spot market for HYPE, with the intention to squeeze large short positions (about 5% away from the liquidation price). Within 15 minutes, they bought $14.5 million worth of HYPE. At the same time, they also placed $7.05 million worth of short positions in the $34.5 to $36 range, trying to entice the shorts to be squeezed.

Subsequently, traders opened shorts against his buy orders, causing the funding rate to briefly rise above -800% and prompting a spot premium of $0.4. The whale then market sold 100,000 HYPE (worth $3.3 million), causing the price of HYPE to drop by 4% within seconds.

The squeezed short position now only holds 727,000 HYPE ($24 million), previously at a scale of 2.1 million HYPE ($67.1 million).

You may also like

Base's 2025 Report Card: Revenue Grows 30X, Solidifies L2 Leadership

Base's 2025 Report Card: Revenue Grows 30X, Solidifies L2 Leadership

In 2025, Base further solidified its Ethereum L2 lead position, on-chain revenue increased from $2.5 million (5% of L2 total revenue) to $75.4 million in revenue (62% of L2 total revenue),

The Trillion-Dollar Stablecoin Battle: Binance Decides to Step in Again

The Trillion-Dollar Stablecoin Battle: Binance Decides to Step in Again

Stablecoins are no longer just a "USD substitute for speculation." Binance, presidential families, sovereign wealth funds, and a new type of stablecoin are all entering the scene simultaneously, indicating that the competitive logic of stablecoins is changing.

Where Did $362 Million Go? Hyperliquid Counters FUD in Decentralization Showdown

Where Did $362 Million Go? Hyperliquid Counters FUD in Decentralization Showdown

Hyperliquid addresses fund security concerns through on-chain reconciliation, while taking a head-on approach to its competitors, elevating the controversy from mere FUD to a debate about transparency and the path to decentralization.

Polymarket Announces In-House L2, Is Polygon's Ace Up?

Polymarket Announces In-House L2, Is Polygon's Ace Up?

When top-level applications begin to have the ability to independently support users, traffic, and economic activities, if the underlying network cannot provide additional value, it will inevitably be "backstabbed."

The Secret Centralization Landscape of Stablecoin Payments: 85% of Transaction Volume Controlled by Top 1000 Wallets

The Secret Centralization Landscape of Stablecoin Payments: 85% of Transaction Volume Controlled by Top 1000 Wallets

Stablecoin payments have reached nearly half of total transaction volume, but are highly concentrated in a few institutional wallets: the top 1000 addresses contributed to about 85% of the transfer volume. While P2P transactions are numerous, their share of the total amount is significantly low.

Stability in the Crypto World: Understanding Stablecoin Usage and Its Implications

Stability in the Crypto World: Understanding Stablecoin Usage and Its Implications

Key Takeaways Stablecoin use in payments has rapidly increased alongside blockchain technology advancements. Stablecoins USDT and USDC dominate…

Stablecoin Weekly Report | Decrypting How Crypto is Reinventing the Internet's Killer Apps through Coinbase's System Upgrade

Stablecoin Weekly Report | Decrypting How Crypto is Reinventing the Internet's Killer Apps through Coinbase's System Upgrade

Coinbase is turning stablecoin and on-chain settlement into a financial "foundational capability," where payment and settlement are seamlessly integrated into the system, moving finance from an app-based model to pervasive invisible infrastructure.

Will the Cryptocurrency Industry Thrive in 2026?

Will the Cryptocurrency Industry Thrive in 2026?

This article will discuss the direction of the cryptocurrency industry after a structural shift.

Five Major Platforms Granted Federal Bank Charters, Crypto Institutions First Time "Included in List"

Five Major Platforms Granted Federal Bank Charters, Crypto Institutions First Time "Included in List"

OCC Approves Circle, Ripple, and Others to Transition to Federal Savings Bank, marking a milestone for the crypto industry as it shifts from relying on the banking system to becoming part of the U.S. financial infrastructure.

Coinbase Launches Custom Stablecoin, Tempo Introduces New Developer Feature, What's Today's Overseas Crypto Community Buzzing About?

Coinbase Launches Custom Stablecoin, Tempo Introduces New Developer Feature, What's Today's Overseas Crypto Community Buzzing About?

What was the most talked-about topic among foreigners in the past 24 hours?

Why is it that recent acquisitions in the crypto space no longer include the token?

Why is it that recent acquisitions in the crypto space no longer include the token?

What can we actually expect when we purchase a token?

Silencio Enhances Voice Contribution Rewards with Stablecoin Campaign

Silencio Enhances Voice Contribution Rewards with Stablecoin Campaign

Key Takeaways Silencio has launched a stablecoin payout campaign rewarding voice contributors. Users earn up to $10 per…

Arthur Hayes Receives $32.42 Million Worth of USDC from Major Platforms

Arthur Hayes Receives $32.42 Million Worth of USDC from Major Platforms

Key Takeaways Arthur Hayes, co-founder and former CEO of BitMEX, received $32.42 million in USDC over two days.…

Uniform Labs’ Multiliquid Addresses a $35 Billion Gap in Tokenized Asset Market

Uniform Labs’ Multiliquid Addresses a $35 Billion Gap in Tokenized Asset Market

Key Takeaways Innovative Solution: Uniform Labs’ Multiliquid protocol offers a novel approach to address liquidity constraints in the…

From HODL to DeFi, Sharp Analysis of 21 Mainstream Crypto Narratives in 2025

From HODL to DeFi, Sharp Analysis of 21 Mainstream Crypto Narratives in 2025

The article categorizes the 21 mainstream narratives in the crypto space for 2025 into five tiers, ranging from the most hyped to the increasingly sidelined.

Selling Assets While Snagging a Banking License: What's PayPal Up To?

Selling Assets While Snagging a Banking License: What's PayPal Up To?

PayPal is simultaneously offloading its loan assets and applying for a banking license, a move that may seem contradictory on the surface but is actually a life-or-death maneuver to seize the initiative in the stablecoin era.

Paradigm Bets on Brazil: The New Battlefield for Stablecoins Isn't in the US

Paradigm Bets on Brazil: The New Battlefield for Stablecoins Isn't in the US

When the US Dollar Stablecoin Dividend Peaks, Paradigm Chooses Brazil, betting on a regulatory-friendly environment, mature payment infrastructure, and a market where the local currency stablecoin still has significant room for growth.

Hyperliquid's ultimate move, the "Composite Margin," can bring in how much funding

Hyperliquid's ultimate move, the "Composite Margin," can bring in how much funding

Once a mechanism that brought $70 trillion to traditional finance, has been moved to the blockchain

Base's 2025 Report Card: Revenue Grows 30X, Solidifies L2 Leadership

In 2025, Base further solidified its Ethereum L2 lead position, on-chain revenue increased from $2.5 million (5% of L2 total revenue) to $75.4 million in revenue (62% of L2 total revenue),

The Trillion-Dollar Stablecoin Battle: Binance Decides to Step in Again

Stablecoins are no longer just a "USD substitute for speculation." Binance, presidential families, sovereign wealth funds, and a new type of stablecoin are all entering the scene simultaneously, indicating that the competitive logic of stablecoins is changing.

Where Did $362 Million Go? Hyperliquid Counters FUD in Decentralization Showdown

Hyperliquid addresses fund security concerns through on-chain reconciliation, while taking a head-on approach to its competitors, elevating the controversy from mere FUD to a debate about transparency and the path to decentralization.

Polymarket Announces In-House L2, Is Polygon's Ace Up?

When top-level applications begin to have the ability to independently support users, traffic, and economic activities, if the underlying network cannot provide additional value, it will inevitably be "backstabbed."

The Secret Centralization Landscape of Stablecoin Payments: 85% of Transaction Volume Controlled by Top 1000 Wallets

Stablecoin payments have reached nearly half of total transaction volume, but are highly concentrated in a few institutional wallets: the top 1000 addresses contributed to about 85% of the transfer volume. While P2P transactions are numerous, their share of the total amount is significantly low.

Stability in the Crypto World: Understanding Stablecoin Usage and Its Implications

Key Takeaways Stablecoin use in payments has rapidly increased alongside blockchain technology advancements. Stablecoins USDT and USDC dominate…

Popular coins

Latest Crypto News

13:46

U.S. Initial Jobless Claims for the Week Ending December 20th totaled 214,000, with an expectation of 224,000.

BlockBeats News, December 24th: In the US, initial jobless claims for the week ending December 20th were 214,000, compared to the expected 224,000. (Forex Factory)

13:16

BlackRock: Fed's 2026 Rate Cut May Be Limited

BlockBeats News, December 24th, in a report, BlackRock strategists Amanda Lynam and Dominique Bly pointed out that the Federal Reserve is expected to only implement a limited rate cut in 2026. With a cumulative rate cut of 175 basis points in this cycle, the Federal Reserve is approaching the neutra...

12:46

Current mainstream CEX, DEX funding rate display shows the market still maintains an overall bearish view

BlockBeats News, December 24th, according to Coinglass data, the current mainstream CEX, DEX funding rates indicate that the market is still overall bearish. The specific funding rates for mainstream coins are as shown in the attached image.BlockBeats Note: Funding Rate is a fee set by cryptocurrenc...

12:16

Wintermute OTC Lead: Major Coin Breaks Below Key Moving Average, Trend Funds Exiting Short Term

BlockBeats News, December 24th, Wintermute OTC Head Jake posted on social media, stating, "Most traders will naturally become trend followers, especially those who are purely profit-driven. Currently, BTC, ETH, and SOL are all trading below their respective moving averages, which is enough to deter ...

12:16

BlackRock deposited 2292 BTC and 9976 ETH into Coinbase

BlockBeats News, December 24th, according to Onchain Lens monitoring, BlackRock has just deposited 2292 Bitcoins (about $199.8 million) and 9976 Ethereum (about $29.23 million) into Coinbase.

Customer Support：@weikecs

Business Cooperation：@weikecs

Quant Trading & MM：bd@weex.com

VIP Services：support@weex.com

App