Markets Alpha

Tracking all things @Markets_xyz @HyperliquidX

Find insider wallets on the app 👇

[Markets Alpha @MarketsAlpha]

The 2026 FIFA World Cup is coming to Hyperliquid.

[hyperliquidated @solunavaxxer]

I gotta ask, is anyone actually copy trading me?

[Markets Alpha @MarketsAlpha]

GarrettBullish (@GarrettBullish) is now down more than $11M on his $85M bitcoin:native long.

He has been opening the position over the last two weeks.

His liquidation price is around $55K.

Is this just a really bad trader or is he longing onchain to bait people while he sells on CEX?

Track or counter-trade him directly on the Markets app:
https://t.co/yKMojSpNHI

[Markets Alpha @MarketsAlpha]

Hyperliquidated (@solunavaxxer) just hit the $10M PnL milestone on his main Hyperliquid account.

Although the account received a 220K HYPE airdrop, most of the profits in this address come from perp trading.

More than $7M in PnL comes from perps alone.

The catch: he has also traded more than $3.2B in volume. Normally, that would make an address less clean to follow, but in this case, his risk control is strong and his average hold time is long enough to make his trades more actionable.

You can find him here:
https://t.co/X8u1FIHchy

You can also copy or counter-trade him directly through the Markets mobile app:
https://t.co/azwuog1ugs

[Markets Alpha @MarketsAlpha]

Loracle just finished closing his $HYPE short.

He started opening the position more than one month ago, on April 20, then kept adding to it for several weeks.

At peak size, it reached more than 1.8M HYPE, worth roughly $120M.

That position is now fully closed, with around $46M in realized losses.

Despite that, he still holds 892.5K HYPE in the same address, plus another 629K HYPE through his LST position.

That brings his total HYPE exposure to roughly 1.521M HYPE, worth around $114M.

[Markets Alpha @MarketsAlpha]

SpaceX pre-IPO is heating up on Hyperliquid.

There are already two addresses sitting on almost $100K in unrealized profits.

The Top 2 address, with around $73K in uPnL, belongs to qianbaidu (@qianbaidueth), a known Hyperliquid trader.

The address is up around $13.5M overall, but most of that comes from holding HYPE. Its perp profits are closer to $73K. That makes it less clean as a copytrading address, although it still holds more than $13M in spot that could be used, moved, or withdrawn.

The top address, with roughly $93K in uPnL, likely belongs to CryptoPicsou (@CryptoPicsou), a Hyperliquid OG.

He has been nailing almost every trade from this address and currently has around $1.75M in perp profits.

The issue is the drawdown: he’s a good trader, but not necessarily a clean address to copytrade.

Want to follow both? Download Markets and follow them: https://t.co/yKMojSpNHI

[Markets Alpha @MarketsAlpha]

The NBA is also coming to Hyperliquid.

[Markets Alpha @MarketsAlpha]

Copy or counter-trade Loracle here: https://t.co/8L7g06uV2N

[Markets Alpha @MarketsAlpha]

In the last 24 hours, Loracle has closed roughly 432k hyperliquid:native, worth around $29.4M, from his short position. That represents almost 30% of the position. At this pace, it would take roughly 3 more days to fully close it.

He still has around $28M in uPnL.

At the same time, he has been opening a long position in ASTER, which is currently around $1.7M.

[Markets Alpha @MarketsAlpha]

Wintermute has deposited more than $100M USDC into HyperCore over the last few hours via Circle’s CCTP, and has then been withdrawing it through the Arbitrum bridge, effectively draining the bridge.

At this pace, the bridge could be empty within a few days.

Find Wintermute address here: https://t.co/yDFZtyQfwq

[Markets Alpha @MarketsAlpha]

HyperStrategies (@HypeStrat ) bought 1.5M HYPE last week while its cash increased from $113.8M to $157.2M (+$43.4M).

This basically means they likely issued and sold more than $130M worth of PURR shares through the ATM.

Source: https://t.co/u0nunFJ4eP

[Markets Alpha @MarketsAlpha]

You can also find Orderly's positions here:
https://t.co/YUXGtG48NK
https://t.co/jnOGmPiD35
https://t.co/cAlSaprIur
https://t.co/ghCu5hLSKj

[Markets Alpha @MarketsAlpha]

The largest ETH long cluster is about to have more than $250M liquidated.

Meet FastX (@fastx_co), a DEX built on top of Orderly whose founders are massive whales.

These whales, who own more than $100M onchain, including at least $20M in ETH, opened ETH longs one month ago totaling more than $265M on Hyperliquid and more than $22M on Orderly.

Their average entry price is $2,273.

For context, this represents more than 20% of Hyperliquid’s OI and more than 80% of Orderly’s.

They are now down almost $40M in unrealized losses and keep adding margin to their positions. Their average liquidation price is $1,600.

They still have more than $25M onchain in stablecoins, so if ETH keeps dumping and they continue this behavior, they will probably add more margin, potentially lowering their liquidation price to around $1,500.

The last time an entity like this had such a large ETH long position, either leveraged or through borrows and loans, ETH dumped until they were almost fully liquidated.

Interestingly, they also bought $6M spot SOL on Hyperliquid in the last 24h.

You can track their Hyperliquid positions here: https://t.co/g32BvYwavO
https://t.co/uyCqHnLzXY
https://t.co/0uQ6NVf4hy
https://t.co/6eZjrjh2xx
https://t.co/4CjrQflIEU
https://t.co/X5BQKmTe4p

[Markets @Markets_xyz]

We're sending 3 more traders & their +1's to the World Cup.

Brazil 🇧🇷 vs. Scotland 🏴󠁧󠁢󠁳󠁣󠁴󠁿 in Miami, June 24th.

Each winner gets: 2 tickets + $ 3K for flights/hotels.

Download Markets to enter 👇

[Markets Alpha @MarketsAlpha]

Looks like we’re also gonna have the Champions League final!

[Yaugourt.hl @Yaugourt]

World Cup and UCL final markets live on testnet. UCL need to be live on mainnet before Saturday.

First canonical prediction markets.
First use of the validator newsfeed software.
No external oracle.
The validator set deploys and settles.

House of all finance.

Hyperliquid.

[Markets Alpha @MarketsAlpha]

The 2026 FIFA World Cup is coming to Hyperliquid.

[Markets Alpha @MarketsAlpha]

It’s live.

https://t.co/SrQWykEOHX

[Markets Alpha @MarketsAlpha]

HIP-4 CPI outcome markets look close to going live on Hyperliquid mainnet.

The interesting part: resolution appears to be validator-based.

From the current market config, CPI would resolve into exactly one outcome: below 4.3%, exactly 4.3%, or above 4.3%, based on the official BLS CPI print.

This also looks like the next phase of HIP-4: canonical, validator-deployed markets first (where the protocol accrues all the value), then permissionless builder-deployed outcome markets later.

In other words, HIP-4 may follow a similar path to perps: native markets first, builder-deployed markets later.

[Markets Alpha @MarketsAlpha]

HIP-4 CPI outcome markets look close to going live on Hyperliquid mainnet.

The interesting part: resolution appears to be validator-based.

From the current market config, CPI would resolve into exactly one outcome: below 4.3%, exactly 4.3%, or above 4.3%, based on the official BLS CPI print.

This also looks like the next phase of HIP-4: canonical, validator-deployed markets first (where the protocol accrues all the value), then permissionless builder-deployed outcome markets later.

In other words, HIP-4 may follow a similar path to perps: native markets first, builder-deployed markets later.

[Kinetiq @Kinetiq_xyz]

Kinetiq x Kraken

[Markets Alpha @MarketsAlpha]

@0xasrequired @VikingoDigital_ @mlmabc They linked it after the airdrop.

[Markets Alpha @MarketsAlpha]

More than 8M HYPE ($464M) is currently sitting in the 7d unstaking queue.

Some of it may sell.
Some of it may restake.
Some of it may simply move.

So we mapped the top 10 wallets in the queue and the most likely reason each one is unstaking (s/o to @mlmabc for the list)

1) Kinetiq: 1.083M HYPE ($62.8M)
https://t.co/RP5niNBmwo

This is user-driven kHYPE redemption flow.

Users redeem kHYPE to receive HYPE. That usually does not translate into one large seller. It often creates arb flow between kHYPE and HYPE.

Base case: redemption / arb flow.

2) Galaxy Digital: 1M HYPE ($58M)
https://t.co/1K8aQzF4C3

There are four plausible outcomes here:

- LP / AP / OTC / market-making inventory
- Grayscale ETF-related in-kind flow
- Selling or reducing exposure
- Treasury / wallet management

The base case is inventory.

Galaxy is built around institutional liquidity, execution, OTC, and ETF-related flow. Keeping 1M HYPE liquid allows them to service large client orders, ETF-related creations, OTC demand, or AP inventory without having to source HYPE in the open market.

Grayscale ETF is also possible, but it’s not confirmed.

3) alphaHype (Loracle): 849K HYPE ($52M)
https://t.co/x9qIh829wR

This is probably the highest sell-risk wallet in the top 10.

Yesterday, he sold the last 558K HYPE batch within a few hours to have more margin in his $107M HYPE short and pressured the price lower.

Base case: this batch probably sells too.

4) Syncracy Capital: 508K HYPE ($29.50M)
https://t.co/7YPRZQW3Ga

Syncracy has remained very vocal on Hyperliquid, and still publicly frames it as undervalued.

They also hold 432K HYPE ($25M) in spot, of which they sold around 4K HYPE two days ago.

A complete dump would be surprising given their public stance.

More likely buckets:

- Keep HYPE liquid
- Grayscale ETF-related in-kind flow
- Treasury / wallet management
- Small partial sales

No hard signal until the HYPE moves.

5) Anonymous whale: 443K HYPE ($25.7M)
https://t.co/FxEP5eb50u

This wallet currently has a $21.7M HYPE short with $5.5M in unrealized losses.

It did not unstake the full position and still has 113K HYPE staked.

Most of the stack was bought around $24-$25 in January, and this wallet has not sold any yet.

Two plausible outcomes:

- Use the HYPE as margin for the short
- Sell part of the position

Base case: watch closely after the queue clears. This one can go either way.

6) Anonymous wallet: 433K HYPE ($25.1M)
https://t.co/jMc9X0SiUF

Fresh wallet funded by Binance.

It bought HYPE last year around $36-$39, staked since then, and has not sold any.

No clear sell signal yet.

Base case: unclear.

7) Hyperdash / PVP: 400K HYPE ($23.2M)
https://t.co/QHSUSUSagP

Some people think this could be used for an airdrop.

According to @mlmabc, it is more likely being transferred to a custodian.

Base case: custody movement, not sell pressure.

8) Anonymous wallet: 352K HYPE ($20.40M)
https://t.co/7sZPapu047

Last time this wallet cluster unstaked HYPE, around one month ago, the funds moved to HyperEVM, then to a new wallet, and then back into staking.

This may be the same pattern again.

Base case: wallet rotation / restaking.

9) Bizyugo: 300K HYPE ($17.4M)
https://t.co/Q5gV8DDAbH

Bizyugo requested a 300K HYPE unstake, but still has 766K HYPE staked.

He sold 800 HYPE yesterday, but last time he unstaked 300K HYPE, he staked it again.

Possible outcomes:
- Restake
- Keep HYPE liquid
- Grayscale ETF-related in-kind flow
- Small partial selling

Base case: not an obvious dump. Most of the position remains staked.

10) Anonymous: 180K HYPE ($10,6M)
https://t.co/oXlaCQCC33

It belongs to a cluster of wallets that heavily sybiled the Hyperliquid points program across many different addresses. This entity was one of the top HYPE airdrop farmers.

It is basically a fresh wallet funded by Coinbase.

He sold most of his HYPE close to the TGE.

Base case: sell.