Whale Goes All-In on SOL and ETH Shorts with Max Leverage
A major trader is doubling down on SOL and ETH shorts with max leverage, raising market concerns.
- Largest SOL shorter adds ETH to his high-leverage bets
- Current SOL and ETH short positions exceed $64M
- Market watchers fear potential liquidations
The largest short seller of Solana ($SOL) on Hyperliquid, known by wallet address 0x35d1, has now opened a significant short position on Ethereum ($ETH) as well. Already famous for his aggressive shorting of SOL, this trader is now doubling down by adding ETH to his strategy—using maximum leverage.
Currently, the trader holds a short position of 441,393 SOL, valued at approximately $63.55 million, and has added 335.58 ETH, worth around $1.02 million, to the mix. This move comes amid uncertain crypto market conditions, suggesting the trader is betting heavily on a broader market decline.
Leverage Strategy Raises Liquidation Risks
Using max leverage on both SOL and ETH trades increases both potential returns and risks. While the trader could profit handsomely if prices drop, the downside could be just as steep if the market moves against him. With such high leverage, even minor price upticks in SOL or ETH could trigger margin calls or liquidations.
Market watchers are keeping a close eye on this wallet. If either asset sees a price surge, the resulting short squeeze could lead to a domino effect, impacting overall market liquidity. On the flip side, if the bearish bet plays out, this whale stands to gain massively
What This Means for the Market
Large leveraged positions like these can cause sharp volatility, especially in altcoins like Solana. The trader’s move to short both SOL and ETH suggests a strong conviction that the market is heading lower, or possibly a hedge against long exposure elsewhere.
For now, this bold play adds another layer of tension in the crypto space. Whether it pays off or backfires will depend on how the market reacts in the coming days and weeks.
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