Garret Bullish dead

HLP just made ~$15M from Garret Bullish’s liquidation.

https://x.com/mlmabc/status/2017671276337205477

🔴 #ETH Long [BACKSTOP] Liquidation: $219.17M @ $2,224.2 [scan][qwan]

One for the history books

Garret Bullish deposited 100K ETH ($243M) into Binance 7 minutes ago

https://etherscan.io/address/0x4F83BEe69D205836024A1A0b5c9738854649C2a3

The Hyper Foundation (budget) wallet just unstaked 100K HYPE ($2.9M).

They’ve done this four times before to cover operating expenses, unstaking a total of 384K HYPE ($11M), with the last time being around 7 months ago.

https://hypurrscan.io/address/0xd57ecca444a9acb7208d286be439de12dd09de5d

Note: this is completely separate from team unlocks and unrelated to any scheduled unlock events.

The Assistance Fund crossed 40M HYPE ($1.25B) yesterday, equal to ~4% of the total supply.

https://hypurrscan.io/address/0xfefefefefefefefefefefefefefefefefefefefe

HyperCore will support outcome trading (HIP-4). Outcomes are fully collateralized contracts that settle within a fixed range. They are a general-purpose primitive that are useful for applications such as prediction markets and bounded options-like instruments. There has been extensive user demand in both of these areas, and builders will likely think of novel applications as well.

Outcomes bring non-linearity, dated contracts, and an alternative form of derivative trading that does not involve leverage or liquidations. The outcome primitive expands the expressivity of HyperCore, while composing with other primitives such as portfolio margin and the HyperEVM.

Outcomes are a work in progress and currently only being tested on testnet. Canonical markets based on objective settlement sources will be deployed once technical development is complete. Canonical markets will be denominated in USDH. Pending user feedback, the infrastructure will be extended to permissionless deployment.

USV (Union Square Ventures) received 92.5K HYPE ($3M) from Anchorage 8 hours ago and now holds 258K HYPE ($8.5M).

https://hyperevmscan.io/address/0xc6694748b323ca21817c1c86fcc99956c9ce92d3

A newly created wallet received 522K HYPE ($19.4M) from Anchorage over the past 14 hours, while a wallet I believe to be Ribbit Capital received another 195K HYPE ($7.3M) around 13 hours ago.

https://hyperevmscan.io/address/0xfcfb9e3c6758c90929c45938c6c675e4b359911d

https://hyperevmscan.io/address/0x72b23aebbd4abfc1cea755686710e74c93696fae

Wallets linked to Trend Research and Garret Bullish deposited a total of 310K ETH (worth ~$651M) into Binance over the past three days to repay loans.

Arthur Hayes just bought another 50.4K HYPE (~$1.7M) and now holds 124.33K HYPE (~$4.2M), bought over the past 20 days at an average price between $29–31.

https://hypurrscan.io/address/0xc32235231d29831a2cb2a11e3f9c7f38160fc1dd

An entity has been selling large amounts of ETH on Hyperliquid to repay Aave loans across 10 wallets.

The entity sold 31.7K ETH ($80.8M) on Hyperliquid over the past 5 hours, bringing total sales to 47K ETH ($120M) over the past 4 days.

They’re still supplying 49.6K ETH ($112M) into Aave, while having $86M USDC borrowed against it.

With ETH going down, the position is now on the edge of liquidation, forcing continued ETH selling to repay debt and avoid getting liquidated.

0xc1ae7B499fA724A4A5098d308eBAcb49B7272e2c
0xC7880fC94d88476c0df9272928645834E6F39854
0xdb906D0dfd17C05DF42B9A20EBd1287Ff88Cb13c
0xaDfFE2BEAfaE564E6FE372d660AA8b27767F2B33
0x57f4Fb3bd619f50d0fe74aaaCff723494CfDE132
0x2BFA70961B22af71E41028E57D18AA23e640971e
0x0246B8b0CF8c681a14EefDDa6Db2f9f8Ae28DEF2
0x23B6820d1563a21Ba1D81631214fccBAd72982c2
0xe7CEAD883de35F04778aAa0F8Cd155a5c4400619
0xf9d1540285DcC0582aa32852af7cf9Ed0205Ebf5

Ripple Announces Support for Hyperliquid, Expanding Institutional Access to Onchain Liquidity.

source

Since my last post, the wallet I suspect to be HSI (Hyperliquid Strategies) bought another 527.8K HYPE ($17.7M) and has now bought 1.487M HYPE ($49.8M) over the past 8 days.

All HYPE is immediately split across multiple wallets and staked.

https://hyperevmscan.io/address/0xb99d9f683ca35da8b39269fb598739f57bf12923

Galaxy Digital just withdrew another 700K HYPE ($23.6M) from CEXs in the past hour. Likely for Multicoin and will be distributed across their wallets later (not confirmed).

https://hyperevmscan.io/address/0x16f6d15381bee4a25b25f0d1c4161b78f7f21fde

See this post for why I think this belongs to Multicoin: https://x.com/mlmabc/status/2019089283508822103

Total notional liquidations on Hyperliquid hit ~$350M today, bringing the 7-day total to $2.57B - nearly 10% of which came from silver.

Source