Key Takeaways
- Machi Big Brother deposited 220,000 USDC into Hyperliquid.
- Hyperliquid is a decentralized exchange focusing on perpetual futures trading, with HYPE as its native token.
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Jeffrey Huang, also known as Machi Big Brother, a prominent cryptocurrency trader known for bold leveraged positions and public commentary on market volatility, deposited 220,000 USDC into Hyperliquid today, according to Lookonchain.
The trader then increased his long positions in ETH and HYPE with 3,300 ETH valued at more than $13 million and 101,000 HYPE worth nearly $5 million.
Influential traders have been increasingly depositing stablecoins into Hyperliquid to build positions in ecosystem tokens like HYPE, according to recent activity on X. The platform has enhanced its perpetual trading features, allowing users to maintain leveraged positions on assets like ETH without expiration dates.
