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Key Takeaways
- Machi Big Brother deposited 220,000 $USDC into Hyperliquid.
- Hyperliquid is a decentralized exchange focusing on perpetual futures trading, with $HYPE as its native token.
Jeffrey Huang, also known as Machi Big Brother, a prominent cryptocurrency trader known for bold leveraged positions and public commentary on market volatility, deposited 220,000 $USDC into Hyperliquid today, according to Lookonchain.
The trader then increased his long positions in $ETH and $HYPE with 3,300 $ETH valued at more than $13 million and 101,000 $HYPE worth nearly $5 million.
Influential traders have been increasingly depositing stablecoins into Hyperliquid to build positions in ecosystem tokens like $HYPE, according to recent activity on X. The platform has enhanced its perpetual trading features, allowing users to maintain leveraged positions on assets like $ETH without expiration dates.