#数字资产市场动态 This on-chain whale is interesting—$20 million principal turned into $104 million in just 4 months.

According to the latest monitoring data from the on-chain analytics platform Hyperinsight, an address known as the "20 Million Bandwagon Hunter" (0x880a) has been aggressively closing positions on Hyperliquid these days. In the past 6 hours, this individual has been continuously reducing short positions in ETH and HYPE.

The current position sizes are as follows:
- ETH short approximately $68.3 million, average price $3,132, liquidation price $3,767
- HYPE short approximately $41.97 million, average price $31.7, liquidation price $34.27
- Total holdings amount to $111 million

Speaking of this trader, he's quite a fierce player. Since October, relying on an initial capital of $20 million, he has accumulated over $104 million in profit through high-frequency multi-asset band trading—earning another $1.3 million today alone. The average holding time per position is only about 20 hours, which is indeed quite aggressive.

Interestingly, this address's strategy is shifting. Previously, it mainly engaged in PUMP, PAXG, and HYPE shorts (accounting for 83.6%), but recently, it has shifted its focus entirely to ETH and HYPE shorts, which now account for 98.6% of its holdings.

As a result, this trader has become the largest ETH and HYPE short whale on Hyperliquid.