The trader holds 1,400 Bitcoin and 82,000 Ether across 10 addresses, with an unrealized profit of $8.77 million.
The order represented 2,064.49 Ether at $2,493.20, while nearby bids and asks were closely balanced on Oct. 9.
The address holds 573.759 Bitcoin, while BTC was trading at $82,647 at publication time.
The platform generated about $492 billion in trading volume during the first quarter, while 97% to 99% of protocol fees funded HYPE buybacks.
Zcash and Ether face the clearest downside risks, while Hyperliquid remains above major moving averages and Shiba Inu trades near support.
Short positions accounted for 53.64% of whale holdings, while long positions represented 46.36% of the total.
The 54.1-BTC position was opened at $81,778.60, with liquidation set at $80,819.10.
The 21Shares Hyperliquid ETF accounted for the full decline, while total HYPE spot ETF assets stood at $454 million.
The launch involved a partnership with LayerZero and brings HYPE trading and liquidity provision to Robinhood Chain.
A seven-day transfer moved 3.75 million HYPE from staking to spot balances, while 1.25 million tokens were later restaked and the token traded near $87.
Hyperlabs unstaked 3.75 million HYPE, worth $331.4 million and distributed to 5 OTC buyers' wallets.
The Synthetix and Infinex founder questioned whether HIP-3 fee sharing leaves enough revenue for HYPE buybacks and burns.