Whale Places $11.2M Leveraged Bet Against BNB

Edgen Crypto

·Feb 01 2026, 16:03

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Key Takeaways

A prominent crypto whale has re-emerged after a two-month hiatus to place a significant bet against BNB. This action, executed on the Hyperliquid derivatives platform, indicates strong bearish conviction from a trader with a proven track record of profitability.

An inactive whale deposited 1.127 million USDC into Hyperliquid to fund the new position.
The trader opened a 10x leveraged short on BNB, creating a total position size of approximately $11.27 million.
This same whale previously earned $4.57 million in profits from other trades, lending credibility to their bearish outlook.

Whale Wagers $11.2M on BNB Price Decline

After a two-month period of dormancy, a significant crypto trader has executed a large, bearish trade against BNB. The whale deposited 1.127 million USDC into the decentralized derivatives platform Hyperliquid and used the capital to open a short position on BNB with 10x leverage. This creates a total notional position valued at approximately $11.27 million, signaling a high-conviction bet that the token's price will fall. Such a large, leveraged trade from a single entity can introduce significant selling pressure into the market.

Trader's $4.57M History Adds Weight to Bearish Stance

The market is taking note of this trade due to the whale's history of profitable activity. This same trader previously accumulated $4.57 million in profits from successful trades on tokens including XPL and HYPE. This track record suggests the current short position on BNB is not speculative gambling but a calculated move based on the trader's analysis. The reappearance to specifically target BNB could influence market sentiment and lead other traders to reconsider their long positions or join in shorting the asset.