Trader Builds $111M Short Book on Hyperliquid with $68M ETH and $42M HYPE Positions, Up $104M Since October

A trader at address 0x880a closed multiple short positions in ETH, HYPE and other tokens over the past 6 hours on December 24, Hyperinsight data show. The address currently holds about $68.30M in ETH shorts at an average entry of $3,132 with a liquidation price of $3,767, and roughly $41.97M in HYPE shorts at an average of $31.7 and a liquidation level of $34.27, bringing total open positions to around $111M and making it the largest short position holder in ETH and HYPE on Hyperliquid. The account has turned roughly $20M in capital into more than $104M in cumulative profit since October, including $1.3M realized on December 24, operating as a high-frequency multi-asset swing trader with an average holding period of about 20 hours. The trader previously concentrated shorts in PUMP, PAXG and HYPE, which once accounted for 83.6% of positions, while recent focus has shifted to ETH and HYPE shorts, now representing 98.6% of the portfolio.