Micron Technology (MU) has continued to strengthen recently, with Hyperliquid quoted at $1,145 as of June 29. According to BlockBeats On-chain Detection, a U.S. stock trader opened a long MU position on April 9 using 2x leverage at an average entry price of about $405, deploying roughly $140,000 in principal.
As MU rose, the position showed an unrealized profit of about $540,000, with a cumulative return of 362%, lifting the account value to around $690,000.
On-chain data also indicated smaller traders benefited from the move. Another trader opened a MU position in early April at an average price of $391 using 10x leverage, with about $1,300 in principal. The position’s reported return reached 1,912%, with an unrealized profit of about $24,000.
Despite these gains, large on-chain MU holders were described as still leaning bearish overall, possibly due to whale arbitrage short positions. Short notional exposure was about $89.6 million, compared with $52.7 million on the long side, or roughly 1.70 times larger.
The average entry price for large long positions was about $942. Large short positions were described as deeply underwater, with an average entry price of about $969.
Two addresses were cited in the report: 0xc932e364a2c57ffe87153113bc4c53fa8338b1ba and 0x05c47beed53eb8b3fc14538f881d0941cbbe05a1.