Prominent trader "Buddy" (Huang Licheng) has recently made changes to his leveraged positions on Hyperliquid, modestly increasing his long stance on
Ethereum
(ETH) while trimming his HYPE token assets, as revealed by on-chain analytics. These latest adjustments, monitored by platforms like HyperInsight and Lookonchain, indicate a more cautious approach in response to turbulent market conditions after an October 11 downturn that wiped out $12.56 million from his holdings, according to
a Bitget report
.
By October 31, Buddy had increased his
ETH
long position by 250 coins, bringing his total to 2,450 ETH at 25x leverage, which is valued at $10.32 million and shows an unrealized profit of $890,000, as reported by
a CoinTech2u report
. At the same time, he sold off 10,000 HYPE tokens, reducing his overall long HYPE position to 88,000 tokens at 10x leverage, worth $4.17 million and with $334,000 in unrealized gains, according to
a BlockBeats report
. Buddy also partially exited high-leverage HYPE trades and initiated a 10x long in PUMP, diversifying his portfolio to three tokens with a combined value of $24.31 million, as detailed in another BlockBeats update.
These portfolio changes are in line with broader market trends. HYPE has climbed 25% to $48.70, fueled by $624 million in daily trading and growing institutional interest, including a $1 billion SEC filing for HYPE staking by Hyperliquid Strategies, as noted in the Bitget report. Meanwhile, ETH continues to show bullish technical signals, with analysts suggesting a possible 54% surge to $61.5 if it can surpass the $41–$42 support area, according to
a Yahoo Finance analysis
. Open interest in Hyperliquid derivatives has reached $1.97 billion, the highest since the October 11 drop, while long positions have generated $182.6 million in profits compared to $222.7 million in short losses, indicating mixed market sentiment, as the Bitget report points out.
Buddy's more restrained strategy stands in contrast to his earlier aggressive move, where he deposited $220,000 in
USDC
at the end of October, boosting his ETH and HYPE holdings by 3,300 ETH ($13 million) and 101,000 HYPE ($5 million), according to the Bitget report. This change mirrors a wider pattern among major traders, who are now evenly split between long and short positions, totaling $7.2 billion in open interest. However, recent price movements have favored buyers, as short liquidations near $41–$42 have sparked covering rallies, the Bitget report observes.
The Hyperliquid ecosystem is also gaining momentum, with its native blockchain generating $132,590 in daily revenue and its cross-chain bridge Unit contributing $32,383, as reported by Bitget. Institutional support, including the SEC filing and a significant ETH order from Binance, further highlights confidence in the platform's future growth, according to the Yahoo Finance analysis.
Market watchers are keeping a close eye on Buddy's next moves, as his history of leveraged trading has often swayed market sentiment. For now, his reduced HYPE exposure and careful ETH accumulation point to a more cautious stance, even as the broader crypto market remains highly volatile, according to BlockBeats and Bitget reports.
