Whale Takes $13.9M Leveraged Bet on Tokenized Tech Stocks

Edgen Crypto

·Feb 24 2026, 14:26

Share to

Share to

Copy link

Key Takeaways

An unidentified large-capital trader, known as a whale, has executed a significant leveraged trade on tokenized technology stocks using a decentralized finance protocol. This move indicates strong bullish sentiment for specific tech equities and highlights the growing use of crypto platforms for traditional asset exposure.

A whale deposited 7.35 million USDC into the decentralized exchange Hyperliquid on February 24.
The funds were used to open leveraged long positions totaling $13.94 million in tokenized NVIDIA ($11.94M) and SoundHound AI ($2.0M) stocks.
The action demonstrates how DeFi protocols are becoming a viable alternative for traders to speculate on traditional markets with crypto-native collateral.

Whale Deploys 7.35M USDC for Leveraged Tech Bet

On February 24, a trader identified by the wallet address 0xcd6b deposited 7.35 million USDC into the decentralized perpetuals protocol Hyperliquid. The capital was used as collateral to establish substantial long positions in two tokenized technology stocks. The whale's positions include a $11.94 million bet on NVIDIA (NVDA) and a $2.0 million position in SoundHound AI (SNDK).

The total exposure of $13.94 million against a collateral of 7.35 million USDC implies the use of nearly 1.9x leverage. This transaction showcases a significant, high-conviction bullish stance on the two companies from a single large market participant.

DeFi Protocols Emerge as Venue for Equity Trading

This multimillion-dollar trade underscores a growing trend where traders utilize decentralized finance (DeFi) infrastructure to gain exposure to traditional assets. By using a platform like Hyperliquid, the whale bypassed conventional brokerage systems, benefiting from the protocol's accessibility and crypto-native settlement. The move signals that sophisticated investors are increasingly comfortable using DeFi exchanges for speculating on mainstream stocks, not just digital assets.

This specific action serves as a strong bullish signal for NVDA and SNDK, reflecting a belief in their continued price appreciation. As more capital flows into DeFi platforms to trade tokenized versions of real-world assets, it could increase liquidity and further blur the lines between traditional and decentralized financial markets.