A newly created wallet deposited 10 million USDC into Hyperliquid, bought spot, and opened a 10x leveraged short position on HYPE for hedging.

According to Jinse Finance, Onchain Lens monitoring shows that a newly created wallet transferred 10 million USDC to Hyperliquid. Part of the funds were used to buy HYPE in the spot market, while simultaneously opening a 10x leveraged short position on HYPE. The wallet still holds approximately 9 million USD in funds.