A trader deposited 2 million USDC into HyperLiquid to open a 40-fold long position in Bitcoin

Huobi HTX reported that according to on-chain analyst Onchain Lens, a trader deposited $2 million in USDC into the HyperLiquid protocol and opened a long position in Bitcoin with 40 times leverage. The trader previously closed his long positions in Bitcoin, PEPE and Dogecoin, with a total loss of $1.33 million.