Original | Odaily Planet Daily (@OdailyChina)

Author | Wenser (@wenser 2010)

In the recent market fluctuations, the most outstanding traders are undoubtedly those who have profited significantly through frequent contract openings on Hyperliquid. Amid the ups and downs of mainstream coins like BTC and ETH, they seem to always be one step ahead in detecting market trends, quickly entering positions and exiting with precision, thereby earning the nickname “Insider Brother” amidst jealousy and skepticism in the community.

Currently, some retail investors regard them as “position indicators” and have achieved real-world profits by following their trades. In light of this, Odaily Planet Daily will briefly review the operations of these profit-making whales on the Hyperliquid platform and share their watching addresses for readers’ reference.

Hyperliquid Becomes the Latest Gold Rush: Monthly Trading Volume Grows Over 4 Times in 6 Months

After experiencing the baptism of political meme coins like TRUMP, MELANIA, and LIBRA, the meme phase of the cryptocurrency market has temporarily receded. In its place, the on-chain contract market has emerged as the latest gold rush for countless traders.

At the beginning of February, a report from Messari indicated that Hyperliquid’s monthly trading volume had grown over four times since October 2024, demonstrating the platform’s rapid rise in the decentralized trading market. Hyperliquid has cultivated a group of high-value, continuously active trading users, becoming the only Layer 1 alternative in the market with a clear core user group.

In late February, Hyperliquid officially announced that the HyperEVM mainnet is now live, introducing universal programmability into Hyperliquid’s high-performance financial system. The initial release of the mainnet includes: HyperEVM blocks constructed as part of L1 execution, inheriting all the security of HyperBFT consensus; spot transfer between the native HYPE and HyperEVM HYPE; and a standardized WHYPE system contract applicable to DeFi applications.

Meanwhile, on February 22, Degen News cited DeFiLlama data on the X platform, stating that the HyperliquidX protocol’s revenue over the past 24 hours reached $2.46 million, surpassing pump.fun to rank third, only behind the two major stablecoin issuers, Tether and Circle. It must be said that the trend may have already become apparent at that time.

According to Dune data, as of March 7, the number of independent users on Hyperliquid has approached 400,000; the cumulative number of transactions has reached 53 billion; and the platform’s total trading volume has exceeded $19 trillion.

Since February, many whales have achieved impressive results on Hyperliquid, with profits ranging from hundreds of thousands to tens of millions of dollars. Branding itself as “On-chain Binance,” Hyperliquid has become a “position-winning ground” with substantial trading depth amidst the fluctuating monkey market.

Whale “Insider Trading” Operations Review: BERA, BTC, ETH, and More Within Range

Whale Operation: Shorting BERA to Earn $589,000 in 2 Hours

At the beginning of February, according to Lookonchain monitoring, after BERA went live, a whale earned $589,000 by shorting BERA in less than 2 hours. This whale deposited $1.6 million into Hyperliquid 16 hours prior and shorted BERA at a price point of $13, netting a profit of $589,000.

Watching address: Link. It is worth noting that this address has now closed all positions.

Whale Operation: Shorting ETH at 50x Leverage, Floating Profit Over $62.4 Million

At the end of February, according to Onchain Lens monitoring, a whale shorted ETH on HyperLiquid with 50x leverage, at that time floating a profit of over $62.4 million.

Watching address: Link. Currently, this address still has a contract position valued at $98 million.

Suspected Insider Brother: Going Long on ETH and BTC During a Sharp Decline, Holding 88,500 ETH, Making $6.83 Million in 24 Hours

According to on-chain analyst Ai Yi’s monitoring, the 88,510 ETH long position of a user on Hyperliquid using 50x leverage has been entirely closed for profit, and they have now begun to take profits on Bitcoin, with 315 BTC remaining.

This address previously opened a long position worth over $200 million with a principal of $6 million USDC. Among them—ETH: 49,384, opening price $2,196, liquidation price $2,133.9; BTC: 1,260, opening price $85,671, liquidation price $84,629. Subsequently, this address added to their long position with an additional 914 ETH and 41 BTC.

The subsequent story is well known; Trump directly called out XRP, SOL, ADA, BTC, and ETH, claiming that he would establish a cryptocurrency reserve. As a result, this address once floated a profit of $6.46 million. Due to the timing of the position and liquidation, many in the market speculated that they might be insiders close to Trump. Although this view was later refuted by Coinbase executive Conor Grogan, who claimed the funds originated from phishing scam money, the truth remains unknown.

Currently, this address has closed all positions.

Watching address: Link.

Insider Brother’s Subsequent Move: Opening a $13.45 Million Bitcoin Short

At the beginning of March, according to ai_9684 xtpa monitoring, just 20 minutes before the US stock market opened, the “Hyperliquid 50x leverage long BTC and ETH whale who made $6.83 million” opened a $13.45 million BTC short, still at familiar 50x leverage and a sensitive time point, but this time switching from long to short with a significantly smaller position. The opening price was $93,117.5, and the liquidation price was $94,083, at one point floating a loss of $60,000. However, shortly after, this address ultimately exited with a profit of nearly $300,000.

Institutional Operation: 50x Leverage Opening a $139 Million ETH Short, Floating Profit of $78.19 Million

On March 4, according to Hypurrscan data, a whale opened a $139 million ETH short on Hyperliquid with 50x leverage, floating a profit of $78.19 million, with a liquidation price of 3,507 USDT. Subsequently, it was learned that this position was actually opened to maintain the stablecoin USR under the agreement of Resolv Labs.

Watching address: Link. Currently, the value of this address’s contract positions is approximately $97 million.

Suspected Insider Brother’s Sleight of Hand: 50x Leverage Long on ETH, Making $2.15 Million in 40 Minutes

This afternoon, according to on-chain analyst Ai Yi’s monitoring, the “Hyperliquid 50x leverage long BTC and ETH whale who made $7.13 million” deposited 1.95 million USDC as margin and opened a 50x ETH long position, holding 27,809 ETH (approximately $57.88 million), with an opening price of $2,057.49 and a liquidation price of $2,008.

Shortly after opening the position, ETH rose to a peak of $2,149, and ultimately, they closed all positions for profit, having made $2.15 million in less than 40 minutes. As of now, they have accumulated a total profit of $9.28 million through three leveraged trades.

Watching address: Link.

Whale Operation: Going Long BTC with 4.06 Million USDC, Floating Profit of $589,000

On March 6, according to Lookonchain monitoring, a dormant wallet for two years sold 1,863 ETH at an average price of $2,181, obtaining 4.06 million USDC. Subsequently, this address deposited 4.06 million USDC into Hyperliquid, going long BTC at a price of $89,930 with 20x leverage, floating a profit of $589,000, with a liquidation price of $75,186.

Watching address: Link.

Summary: Dining on Meat and Drinking Soup, All Depends on Speed

Currently, it appears that the suspected Insider Brother’s win rate in both long and short operations is unusually high, and their true identity may be a hacker involved in phishing scams, but it cannot be ruled out that they are an insider or in cahoots with whales.

Given that Hyperliquid’s infrastructure is still immature, current followers rely heavily on speed. Odaily Planet Daily cautions that during unclear market trends, one should be cautious with leverage and ensure proper risk control before choosing a “big brother.”

This article is reproduced with permission from Odaily Planet Daily.