Whale Trader Deposits $5.18 Million USDC into Hyperliquid, Signaling Market Volatility

A significant move in the cryptocurrency market has been observed as a whale trader deposited $5.18 million worth of USDC into Hyperliquid, a decentralized exchange platform. This transaction immediately caught the attention of analysts and crypto enthusiasts alike. The trader opened a leveraged long position on 7,929 ETH valued at approximately $30.32 million, with the liquidation price set at $3,280.2 per ETH. This new activity was reported by notable on-chain analytics accounts like @OnchainLens and @lookonchain, who shared information via Twitter.