Large address 0x38fd increased its position by $HYPE by $7.9 million using 10x leverage

Following positive trading results, the crypto wallet 0x38fd has become more active in the Hyperliquid (HYPE) market. In the last two hours, it placed a large 10x long position, including 321,484 tokens $HYPE worth approximately $7.9 million. At the current token price of $24.36, this volume indicates the large player's confidence in the asset's further growth.

The precondition for this aggressive entry was a recent successful trade. The address closed a previous long position with a profit of $249 000, practically confirming the correctness of its trading strategy. It seems this success inspired the whale to take on a larger risk.

Such activity by large players is often seen by the market as a signal. When whales with such determination increase leverage and volume, it may indicate their forecast for the upcoming movements of $HYPE price. However, using 10x leverage also involves increased risks, so such strategies require constant monitoring of positions and risk management.