PANews reported on March 13 that according to monitoring by on-chain analyst Yu Jin, the current situation of the "Hyperliquid 50x Whale" is: 2.3 million USDC margin opened ETH 25x long and BTC 40x short on Hyperliquid; 1.5 million USDC margin opened ETH 26x long on GMX.

In addition, according to the analysis of on-chain analyst @ai_9684xtpa, the above-mentioned whale is suspected to be long on the ETH/BTC exchange rate in Hyperliquid. Today, the ETH/BTC exchange rate briefly fell to 0.0228, a new low since June 2020. This explanation seems to make sense. The amount of Hyperliquid ETH long orders and BTC short orders is roughly consistent, and GMX is unilaterally long on ETH.