On May 15, Asian markets faced significant volatility with sharp declines in Japanese and Korean stocks, alongside drops in gold and silver prices. According to BlockBeats On-chain Detection, this turmoil coincided with a major reduction in S&P 500 holdings by a prominent whale on Hyperliquid.
In the past two hours, the whale has sold approximately 1,247 S&P 500 long contracts, valued at around $6.5 million, reducing their position to 5,000 contracts worth approximately $37.14 million. The average purchase price was $7,016, and the whale still holds an unrealized profit of $2.05 million.
Additionally, the whale maintains a short position in ZEC valued at $7.2 million, previously recognized as the largest ZEC short position in the market. This position currently faces an unrealized loss of $820,000, marking a 59% decline.
The address associated with these transactions is 0xd47587702a91731Dc1089B5DB0932cF820151A91.