Monero whale opens $14.3M leveraged long position on Hyperliquid

A newly created cryptocurrency wallet has opened a $14.33 million leveraged long position on Monero (XMR) using the decentralized perpetual exchange Hyperliquid. According to on-chain analytics from Lookonchain, the trader deposited 3.56 million USDC as collateral to control 36,000 XMR tokens at approximately 4x leverage.

The trader set a ladder of take-profit orders between $475 and $516, suggesting an expected price increase of roughly 20% to 30% from the entry price range of $395 to $400.

Monero has recently seen increased activity and price volatility. While its privacy features have led to delistings from several centralized exchanges and links to illicit fund laundering, the asset has also seen technological upgrades such as the implementation of FCMP++ to strengthen its privacy capabilities.