According to data provided by Analytics Platform Onchain Lens, Cryptocurrency Whale recently deposited $4.4 million on the decentralized trading platform hyperliquid, opening a short position levered to XRP, opening the fourth-largest cryptocurrency by market capitalization.
Whales are short on ripple-related cryptocurrencies with eight times leverage.
At press time, XRP has changed hands at $2.57 after an increase of 1.1% over the past 24 hours. Cryptocurrency has added over 20% over the past week.
The same market participants placed a massive bet on the leading altcoin, Ethereum (ETH). His bet on ETH is much more dangerous given that this particular position was opened with 20x leverage.
After ETH has won 40% over the past week, the huge shorts come.
