In the fast-paced world of crypto trading, big moves by whales—those mysterious large holders—often signal exciting opportunities or shifts in the market. Recently, a tweet from Onchain Lens caught our eye, highlighting a fresh wallet that's making waves on Hyperliquid, a decentralized perpetual futures and spot trading platform.

The tweet, posted by Onchain Lens, reveals that this newly created wallet deposited $2.8 million in USDC, bringing the total to $5 million, directly into Hyperliquid. With that capital, the trader opened long positions: a 5x leveraged bet on $STRK (the native token of Starknet, a layer-2 scaling solution for Ethereum) and a bolder 10x leverage on $HYPE (Hyperliquid's own native token, which powers governance and security on the network).

What's even more impressive? The positions are already showing a floating profit of $2.4 million. Floating profit, for those new to trading lingo, means unrealized gains—the value the trader could pocket if they closed the positions right now, but hasn't yet.

Looking at the account snapshot, the total account value sits at over $7.3 million, with the $STRK position valued at about $6.47 million (up 179% with $2.33 million in unrealized PnL) and the $HYPE position at $2.98 million (up 79% with $1.3 million in gains). The overall return on equity (ROE) is a staggering +147%, all while maintaining a low leverage ratio of 1.29x across the portfolio.

Hyperliquid has been gaining traction as a go-to platform for perp trading, especially among those chasing high-volatility assets like meme coins. While $STRK is more utility-focused, $HYPE itself has meme-like appeal in the community, often hyped (pun intended) for its potential in the DeFi space. This whale's move could be betting on upcoming developments in Starknet's ecosystem or Hyperliquid's expansion.

Diving into the transaction history, we see a series of deposits from Coinbase and bridges via Hyperliquid's infrastructure, interspersed with token burns and receives. It's clear this wallet, dubbed "HYPE Millionaire" in the logs, is strategically building its position over days, starting from small ETH receives months ago.

For meme token enthusiasts, this is a reminder of how platforms like Hyperliquid enable leveraged plays on trending assets. If you're trading memes or looking to level up your on-chain game, keeping an eye on whale activities via tools like Hyperbot can provide valuable insights.

As always, remember that leveraged trading amplifies both gains and losses—proceed with caution. What's your take on this whale's strategy? Could $HYPE be the next big mover in the meme coin arena?