Crypto
Hyperliquid Trader Takes a $4.7M Bet on PUMP Reaching $0.0055
A recent trade on Hyperliquid has opened a $4.7 million long position in PUMP, a token that has seen significant activity on the Solana blockchain.
The trader deposited approximately $700,000 to buy 1.02 billion PUMP tokens at around $0.004407 and now sits on over $200,000 in unrealized profit with the current price near $0.004536.
However, this position is vulnerable to liquidation if the price falls below $0.003916, a key support level that could lead to substantial losses.
On the other hand, a move above $0.005000 would give the trader more room to breathe, potentially pushing the position further into profit with a test of $0.005500 being a significant milestone.