A carnival belonging to global capital is unfolding, and some people may soon become sacrifices to this feast.
On June 12, SpaceX, under Elon Musk's leadership, officially landed on Nasdaq, setting a record for the largest IPO in human history with a financing scale of $75 billion. This giant vessel, carrying the dream of Mars, took off from an issuance price of $135 and reached $152 at the opening, then continued to soar. In the perpetual contract market on Hyperliquid, the price of SPCX rocket to new heights, once soaring to $228 in after-hours trading, with its total market capitalization surpassing $2.8 trillion.
However, amidst this bullish carnival, a staunch "US stock short-selling loyalist" is facing a life-and-death test.
The Giant Whale's Gamble and Crisis
According to on-chain data tracking from AiCoin, the whale account at address 0x4e23...20c3 is deeply trapped in SPCX short positions. This big player, branded as the "profit king" and "high leverage," once boasted an investment return rate of up to 43.39%, with a total account value exceeding $5.35 million at one point.
A deep analysis of its position structure reveals that this whale is extremely biased towards shorting US stocks. Among its 13 active perpetual contract positions, aside from a small number of long positions in BTC, SOL, and NVDA, the vast majority of funds are used for shorting. It holds short positions in INTC (Intel), AMD, MU (Micron Technology), and SNDK (SanDisk), but these are just appetizers.
What is truly deadly is its all-in bet on SPCX.
Data shows that this whale heavily shorted 111,000 shares of SPCX at an price of $173, with a total value as high as $23.75 million. As SPCX's price surpassed $216, this short position is now facing an unrealized loss of over $4.78 million. Even more dangerously, the margin utilization rate in its account has soared to 100.68%, putting it in an extremely tense situation.
The liquidation price for SPCX is $249. There is only about a 15% margin to the current price. If market sentiment continues to push SpaceX's post-IPO momentum, this whale shorting the "Mars dream" will see its $24 million position face an instantaneous annihilation.
On-Chain Nasdaq: Hyperliquid's Dimension Reduction Strike
This thrilling battle between bulls and bears is not taking place on traditional Wall Street brokerage platforms, but is being played out in real time on Hyperliquid—a decentralized perpetual contract exchange known as the "on-chain Nasdaq."
In the past, retail investors wanting to participate in IPOs of top tech giants like SpaceX often faced extremely high barriers: cumbersome KYC verification, restrictions on cross-border fund flows, and various constraints on shorting mechanisms imposed by brokerage platforms.
Now, Hyperliquid has completely changed the game rules. Through the HIP-3 asset standard, Hyperliquid brings the pricing power of US stock assets on-chain. Here, anyone can use USDC as a unified margin to trade US stocks, cryptocurrencies, and even prediction markets seamlessly 24/7. The comprehensive on-chain order book (CLOB) provides a millisecond matching experience, thoroughly eliminating the risks of opaque operations on centralized platforms.
Whether to follow the trend and go long on SPCX, or to short against the trend like that whale, Hyperliquid offers the purest and freest trading environment.
Hunting Liquidity Anytime, Anywhere: AiCoin Mobile Launches
While Hyperliquid's underlying mechanism is powerful, its long-standing lack of a user-friendly mobile application has made it inconvenient for many traders accustomed to operating on mobile devices. Lagging and disordered formatting of the web version on mobile browsers often leads to missed opportunities in extreme market conditions.
Now, this pain point has been completely resolved. The AiCoin mobile app now officially supports Hyperliquid trading, becoming one of the rare mobile solutions perfectly adapted to Hyperliquid.
As the most professional data and trading platform for crypto assets in the market, AiCoin brings the smooth experience of top CEXs into the decentralized world:
1. One-click Secure Authorization: API Key is encrypted multiple times and stored locally, with no network transmission, ensuring absolute security for assets. It supports convenient import of main wallet/Vault addresses and private keys.
2. Professional-Level Market Depth: Provides real-time order book with millisecond-level updates, making order-to-market and order-difference data clear at a glance, helping you find precise order points in the volatile IPO market.
3. Ultra-fast Ordering Experience: Allows for choosing market price, counter price, and queued price freely, with flexible leverage adjustment and one-click slippage to open positions.
4. All-Asset Command Center: Within the same app, you can simultaneously manage spot trading on centralized exchanges like Binance and OKX, as well as on-chain derivatives on Hyperliquid, achieving real "one-stop" monitoring.
As SpaceX's rocket launches into space, and as the whale's $24 million short position hovers on the brink of liquidation, every drastic fluctuation in the market contains enormous opportunities.
Don't let poor trading tools become a stumbling block to your profit capture. Open the AiCoin App, link your Hyperliquid account, and truly put this $2.8 trillion wealth-generating machine into your pocket.
💡 New User Perks: Register on AiCoin and use the invitation code AICOIN88 to enjoy an exclusive rebate of 4% on Hyperliquid trading fees.
https://app.hyperliquid.xyz/join/AICOIN88
📖 New User Tutorial:
- "AiCoin PC Hyperliquid Authorization Trading Tutorial":
https://www.aicoin.com/zh-Hans/article/514197
- "Zero-Basis Introduction! Hyperliquid First Trade Ultra-detailed Illustrated Tutorial":
https://www.aicoin.com/zh-Hans/article/510225
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