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Hyperliquid whale takes $12.34M 20X leveraged short position on tokenized silver
A large trader identified as 0x007 has opened a 20X leveraged short position on tokenized silver on Hyperliquid’s HIP-3 platform, with a notional value above $12.34M and unrealized gains that recently fluctuated around $2M. The position, which benefits from positive funding fees and has a liquidation level at $107.96 while silver trades near $83.67, highlights how some crypto participants are using silver as a comparatively safer and more liquid shorting instrument than altcoins. Silver remains among the top traded commodities on HIP-3 even after losing its top spot to gold, as traders return to short strategies now that the metal has moved into a perceived safer range.