A whale trader identified as 0x3dC has posted $1.9 million in unrealized gains through a portfolio of 12 short positions on the Hyperliquid derivatives exchange, signaling aggressive bearish positioning across both crypto and traditional asset classes.
The trader's largest exposure is a 10x leveraged short on NVIDIA (NVDA) valued at $8 million notional, followed by substantial bearish bets on Micron (MU) at $5.8 million and Hyperliquid (HYPE) at $4.5 million. Additional significant shorts target precious metals, with $4.3 million shorted on GOLD and $1.8 million on PAXG, alongside crypto positions in Aave (AAVE), Chainlink (LINK), and MicroStrategy (MSTR), each leveraged 10x. The remaining portfolio includes smaller positions in Marvell Technology, Corsair Gaming, and other assets at 2-3x leverage.
The positioning reflects a sophisticated trader betting on broad-based declines across semiconductors, equities, and select crypto assets. The concentration of 10x leverage bets—particularly on correlated assets like NVDA, MU, and semiconductor-adjacent plays—suggests the trader is capitalizing on sector-specific weakness rather than isolated opportunities. While substantial, the portfolio remains vulnerable to sharp reversals in any of the heavily leveraged positions.