For a long time, the cryptocurrency market has been a place for large institutional players and high-risk traders to roam. These traders seek to route the market and take it in whichever direction ensures they get a payoff. One such trader has recently turned some heads by making very large, very leveraged bets in the two largest cryptocurrencies, Bitcoin and Ethereum. Whale’s High-Stakes Strategy: Big Bets on Leverage A whale deposited an enormous 6 million USDC into the decentralized derivatives platform Hyperliquid yesterday, going long on both Bitcoin and Ethereum with 50x leverage across the board. This means that a
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