The odds of a crypto trader making heavy profits, especially in the ongoing turbulent market, are low. However, one individual made the right bet, making $900k (accurately $840k) as the HYPE token price recovered from the crash. More significantly, the Hyperliquid exchange behind HYPE faced controversies over security, but things are settling. Let’s discuss.
Crypto Trader Bets on Hyperliquid Price Surge, Making $900k
According to the Lookonchain X post, an anonymous crypto trader positioned its trades on the perpetual future and used 3x leverage to make returns. Interestingly, they ended up with $840k in unrealized profits. The individual entered at $11.3667 while holding 858,832.29 HYPE despite the crypto market crash.
Once the Hyperliquid price surged to $12.415 after its earlier crash amid whales’ liquidation events, the trader ended up with a $840k unrealized profit.
Interestingly, the crypto investor has still not closed the trade and is awaiting further returns, as the HYPE price is moving up after centralized exchanges’ (CEX) attempts to ruin its image failed.
If the price declines to $3.2477, the individual can face liquidation. For now, they are safe as the price is relatively high, currently at $12.47.
Hyperliquid Survives the Alleged CEX Kill Attempts
Hyperliquid is among the best crypto exchanges, especially in decentralized platforms. Its popularity fueled the HYPE token price, resulting in it hitting an ATH of $35.02 four months ago.
However, this changed as whales deliberately removed collateral mid-trade, putting all the loss on the platform and crashing the token.
With many more such events, a few crypto experts allegedly blamed the former Binance founder CZ and the centralized exchange (CEX) for trying to kill off this decentralized platform due to competition.
Notably, this is just an unproven speculation, but the token’s price remained down, especially as Donald Trump’s tariff crashed the crypto market. As the market attempted recovery and the exchange implemented new risk policy, the HYPE token price surged 20% from the dip, benefitting the aforementioned crypto trader.
It is attempting further recovery, but uncertainty remains amid Trump’s tariff implementation.
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