A cryptocurrency whale has been conducting high-leverage trading on the Hyperliquid platform, including a 40x leveraged short position on Bitcoin worth $332 million. The position, with a liquidation price of $85,300, has already resulted in a loss of over $1 million. This trader also recently closed a long position on Chainlink (LINK), after investing $12.1 million in spot LINK and opening leveraged positions worth $31 million. The LINK trades resulted in a loss of $1.27 million. Over the past month, the trader has executed eight trades on Hyperliquid, amassing a total profit of $16.39 million. In another development, a whale deposited $3 million USDC into Hyperliquid and opened a 10x leveraged short position on Solana (SOL), with a liquidation price of $169. Separately, Kanye West's retweet of a meme coin contract address caused the coin's market value to briefly surge from $6 million to $180 million before crashing back to $20 million. Traders incurred significant losses, including one who lost $465,600 in an hour after automatically buying the coin and paying a $10,000 JitoTip fee to prioritize the transaction.