On-chain data shows that a seasoned trader, after depositing 3 million USDC on the Hyperliquid platform, quickly established a sizable short position. Specifically, this operation involved two cryptocurrencies—ETH and XMR—with ETH using 25x leverage to short and XMR using 5x leverage.

So far, the total position value of this account has reached approximately $61.9 million. Breaking down the components: the ETH portion holds 18,260.74 tokens, worth about $60.63 million, which is the main position; the XMR portion has 1,838.06 tokens, valued at around $1.27 million.

Based on this entry scale and leverage configuration, this trader is clearly betting on a potential correction in ETH and XMR in the near term. High leverage combined with large capital amplifies both risk and reward—such large-scale operations often reflect market participants' short-term outlook.