Analysis: Most whales trading PUMP contracts on Hyperliquid are low-leverage transactions, perhaps mainly for arbitrage

Odaily Planet Daily News According to the analysis of Ai Yi, an analyst on the chain, after Hyperliquid launched the PUMP contract, most of the whales played the game of "millions of margin + 1x leverage". In fact, they are most likely to go for the public offering arbitrage on the 12th, or to make a short-term profit. At present, three whales have accumulated a deposit of 11 million USDC, but only opened a short position of 2.394 million US dollars. Due to the lack of a mark price, HYPE is currently in a state of easy manipulation. If it is pulled to 0.015 US dollars at 11:30 this morning, then the 1x leverage will also be forced to close if the margin is insufficient. Among them, the address "0xAc7...D53ce" is the most aggressive, with a margin of 4 million USDC and a 2x short position, holding 1.074 million US dollars, an opening price of 0.00504 US dollars, and a closing price of 0.02138 US dollars.