An apparent joint community effort to liquidate an unknown Bitcoin short-seller could be part of an emerging trend, says 10x Research’s Markus Thielen.
Crypto whale tracking on the Hyperliquid blockchain has enabled traders to target whales with prominent leveraged positions in a “democratized” attempt to liquidate them, according to the head of 10x Research.
Hyperliquid, a blockchain network specializing in trading, allows traders to publicly observe what type of positions a whale is holding, and since these positions are leveraged, the market can assess the liquidation levels unless an additional margin is added, Markus Thielen said in a March 17 report.
Source: 10x Research
