PANews reported on March 21 that, according to Onchain Lens monitoring, a whale deposited 3 million USDC into Hyperliquid to open a 10x leveraged short position in HYPE. The whale currently holds 226,310 HYPE tokens, with a position value of approximately $9 million. This whale had previously shorted HYPE, holding the position for as long as 48 days, but ultimately closed out the position with a loss of nearly $200,000.