On-Chain Activity
Last updated
Last updated
Understanding on-chain movements provides valuable insights into Hyperliquid's ecosystem dynamics. Monitoring large-scale transactions, major unstakes, significant buys and sells, and key player movements helps users understand market trends, potential price impacts, and shifts in institutional positioning.
This page highlights the most significant wallet activities, large position changes, and notable trading patterns that have shaped the platform's liquidity and market behavior.
For real-time updates and comprehensive on-chain analysis, follow MLM ( | ), who provides daily tracking of Hyperliquid's major wallet movements and trading activities.
Block Explorers & Analytics: • / - Hyperliquid block explorers • / - For Arbitrum and Ethereum • - Multi-chain explorer with entity labels and alerts
Trading & Position Tracking: • / - Trade alerts via Telegram • - View large perp positions • - Import addresses to track execution and PnL
Live Feeds: • - Real-time liquidation feed on Telegram
May 1-23, 2025: The $23M HYPE Short
Setup: Newly created wallet received 6.5M USDC from Binance, immediately opened massive short position on HYPE worth $23M (1.16M tokens) with liquidation at $22.80
Escalation: Continued adding to position with additional 1.8M USDC deposit, growing short to 1.3M HYPE ($27M) with liquidation at $25.50
Peak Commitment: Received another 5M USDC from Binance, demonstrating serious conviction in bearish thesis
Outcome: Position closed May 23 at $34.60, resulting in loss of $23.5M after withdrawing remaining funds