Hacking News
Massive Shorts on Hyperliquid Exchange
One fund has shorted $1.31 billion on Hyperliquid Exchange, which represents 8.7% of the exchange's open interest. The five largest shorts are in Bitcoin ($BTC), Ethereum ($ETH), Zcash ($ZEC), Solana ($SOL), and Hype ($HYPE). The shorts are almost three times the fund's balance on Hyperliquid, but liquidation is unlikely. The fund made about $217 million in Perpetuals in 30 days. The shorts are likely a hedge, and positions can change quickly.