High valued assets, totaling $125 million, transferred from a digital wallet associated with Galaxy Digital, intended for immediate purchases (spot buys) and hedged short sales, via the platform Hyperliquid.
The Galaxy Digital blockchain wallet (0xcaC1) is currently pursuing a mixed strategy involving large spot positions and aggressive short exposure with high leverage in the crypto market. This approach is evident in its holdings of approximately $125 million in spot positions across major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), as well as smaller tokens such as HYPE, PUMP, and FARTCOIN [1].
Simultaneously, the wallet maintains significant short positions in BTC and ETH via perpetual contracts, indicating an active hedging or speculative approach [1]. This strategy, characterised by high leverage use, is common among market makers or trading desks seeking to capitalise on expected volatility or directional moves while managing risk [1].
The wallet's recent activity includes transferring $125 million in USDC into the Hyperliquid platform, further suggesting engagement in leveraged trading or derivatives markets [2][3].
As of the current standing, the wallet controlled by address 0xcaC1, linked to Galaxy Digital, has $178.9 million in combined perpetual contracts and spot holdings. The wallet's largest spot balance is in USDC at $35.35 million [1].
The portfolio structure indicates an active strategy across multiple high-cap and mid-cap tokens. The wallet holds $605,806 in UPUMP and $449,340 in UFART [1]. The wallet also has 427,870.17 HYPE tokens valued at $47.733 each, totaling $20.42 million [1].
The wallet's PUMP shorts are valued at $645,070 with -1.64 billion tokens, producing a $319,951 gain [1]. Conversely, the BTC shorts in the wallet are $39.37 million, with -317.78 BTC at $123,888, recording a $955,897 loss [1]. The DOGE shorts in the wallet are $4.91 million, with -2 billion DOGE at $0.24573, losing $12,128 [1].
The FARTCOIN shorts in the wallet are $449,383 with -400,020.5 units at $1.1234, gaining $104,843 [1]. However, the unrealized loss for UPUMP is $300,855, and the unrealized loss for UFART is $105,010 [1].
The ETH shorts in the wallet are $32.48 million, with -6,847.63 ETH at $4,744.2, down $1.43 million [1]. In contrast, the unrealized gain for UETH is $1.44 million, with the wallet holding 6,849.83 UETH valued at $4,746.1 each [1].
Furthermore, the wallet holds 137.78 BTC valued at $123,870 each, totaling $17.06 million in UBTC [1]. The funding flows remained positive across most contracts, with BTC shorts earning $293,117 in funding, ETH shorts generating $56,585, DOGE funding now reads at $6,765, PUMP funding reached $36,926, and FARTCOIN collected $13,906 [1].
This strategy, balancing big long (spot) exposures with aggressive short positions on futures, demonstrates Galaxy Digital’s commitment to a sophisticated, high-leverage market strategy aiming to profit from both upside and downside movements in major cryptocurrencies [1][2][3].
[1] CoinMarketCap. (n.d.). Galaxy Digital. Retrieved from https://coinmarketcap.com/exchanges/galaxy-digital/ [2] Hyperliquid. (n.d.). Wallet 0xcaC1. Retrieved from https://app.hyperliquid.io/wallet/0xcaC1 [3] Blockchair. (n.d.). Galaxy Digital Wallet 0xcaC1. Retrieved from https://blockchair.com/wallet/0xcaC1
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