Important points
- Machi Big Brother deposited 220,000 USDC into Hyperliquid.
- Hyperliquid is a decentralized exchange focused on perpetual futures trading using HYPE as its native token.
According to Lookonchain, Jeffrey Hwang, also known as Machi Big Brother, a prominent crypto trader known for his bold leveraged positions and public comments on market volatility, deposited 220,000 USDC into Hyperliquid today.
The trader then increased his long positions in ETH and HYPE, holding 3,300 ETH worth over $13 million and 101,000 HYPE worth almost $5 million.
Recent activity on X shows that influential traders are increasingly depositing stablecoins with Hyperliquid to build positions in ecosystem tokens such as HYPE. The platform has enhanced its perpetual trading capabilities, allowing users to hold leveraged positions in assets such as ETH without expiration.
