Hyperliquid Traders Hold $598M Shorts, Increase Shorts on DOGE, TRUMP, SUI, ETH Amid Net Short Market

Traders on the Hyperliquid platform have shifted their positions across several crypto assets over the past week. Notably, there has been an increase in short positions on Dogecoin (DOGE), Trump (TRUMP), Sui (SUI), Ethereum (ETH), and Popcat (POPCAT), with traders moving from predominantly long to short on DOGE and POPCAT. The leaderboard traders on Hyperliquid are currently net short the market, holding approximately $598 million in short positions compared to $410 million in long positions. The most shorted assets by ratio include TRUMP, SUI, and BERA, while the most longed assets are TAO, PAXG, and FARTCOIN. Additionally, traders are short on ETH, SOL, HYPE, and long on BTC, with many of these positions currently in profit. The platform is also hosting a nine-month trading competition called Surge, offering $20 million in rewards and DYDX tokens. Overall, the market sentiment on Hyperliquid shows a bearish tilt with increased shorting activity across major cryptocurrencies and tokens.