Hyperliquid Trader Up $20.55M on NEAR Long While Shorting Seven Major Coins
- —NEAR long of 5.76M tokens at $2.35 is worth $34.1M, with $20.55M unrealized gain at 10x leverage
- —Estimated NEAR liquidation price is about $1.33, roughly 77% below the current price
- —Short book spans seven coins at $1.9M–2.3M each, with combined losses of $1.33M
- —NEAR has gained over 145% in a month, helped by Bitwise's spot ETF launched Sept. 29
Why it matters: The position illustrates how spot ETF inflows and lower NEAR issuance are fueling leveraged demand, while 10x leverage leaves the gains exposed to a pullback.
Source: Bitcoin.com