#Gate广场五月交易分享 🐳 Hyperliquid Whale Long and Short Battle

Who will be the ultimate winner?

Brothers,

Here is a set of the latest data for you!

Early this morning, the on-chain derivatives giant Hyperliquid made a big splash. According to Coinglass data cited by Mars Finance, the total whale holdings on the Hyperliquid platform currently amount to $4.15B. Surprisingly, in this long vs. short showdown, the long-to-short ratio is almost perfectly balanced — longs account for 49.45% ($2.05 billion), shorts account for 50.55% ($2.1B), with a long-short position ratio of exactly 0.98.

In plain language, the big whales are currently in a delicate balance of “no one giving way to the other.” Even more interesting is their profit and loss situation: currently, longs are collectively floating at a loss of about -$23.11 million, and shorts are also floating at a loss of -$7.73 million — both sides are losing money, emphasizing ecological harmony.

Meanwhile, there are some specific operations worth our close attention. A whale with the address 0xa5b0..41 has fully leveraged 15x long ETH at a price of $2,265.48. The unrealized profit and loss has now turned into a loss of -$47.6k (slightly in the red). Considering the current Ethereum market, ETH prices have not fluctuated much in recent days, and this whale can be said to be walking a tightrope, gambling on the edge.

Beyond the crypto market, Hyperliquid is also playing out a scene from traditional finance. On May 14, according to Onchain Lens monitoring, another whale heavily increased a $37.67 million 7x short position on the S&P 500 (floating loss over $2.19 million), risking everything to bet on a turning point in the US economy.

From the platform’s fundamentals, Hyperliquid has been aggressively expanding its financial landscape recently. In mid-May, the platform launched the HIP-4 event contract on the mainnet, directly stepping into the “prediction market” track.

What do you think about the current long and short contest in the cryptocurrency and macro markets? With such high platform stickiness, large funds are engaged in a full-scale melee. As small retail investors, we must stay calm and avoid blindly following the trend.

Keeping an eye on on-chain big data trends is fundamental to our trading skills. $HYPE ‌$ETH ‌$SPOT ‌