- A savvy trader locked in more than $2.5 million in profit from a long Starknet position opened three days ago.
- He then rotated into HYPE with a 10x long worth about $2.98 million.
- The Hyperliquid token may be poised to move higher.
Smart money participants celebrated gains even as broader bearish sentiment persisted, with Bitcoin trading around $95,000.
One trader drew attention with a high-risk leveraged play.
According to the on-chain tracker Lookonchain, the trader booked more than $2.5 million in returns after timing a Starknet (STRK) position opened three days ago.
Notably, he shifted capital into a new trade, taking a long on HYPE (Hyperliquid) with substantially higher 10x leverage.
Smart trader 0xbbc0 opened a 5x long on 29.5M $STRK($6.7M) 3 days ago and is now sitting on over $2.5M in profit.
4 hours ago, he also opened a 10x long on 77,598 $HYPE($2.98M).https://t.co/pQAjmsQNjH pic.twitter.com/WQYjrNeJGL
— Lookonchain (@lookonchain) November 17, 2025
These consecutive moves come amid uncertainty across financial markets, with many traders adopting a cautious wait-and-see approach.
Meanwhile, the recent trades have boosted confidence among HYPE holders, signaling belief in the altcoin’s short-term upside potential.
STRK long hits its target
On-chain data shows the wallet opened a 5x long on 29.5 million Starknet tokens — a position valued at roughly $6.7 million — three days ago.
The trader entered as STRK began forming a short-term base.
The token has stayed on observers’ radars recently due to ecosystem growth, an expanding staking market, and the mixed signals from overall market weakness.
900M STRK are now staked on Starknet.
That’s ~20% of the circulating supply, and a 100% increase in staked STRK since last quarter.
Acceleration. pic.twitter.com/3thNY1Hk2x
— Starknet (BTCFi arc) 🥷 (@Starknet) November 14, 2025
While many hesitated amid fears that gripped parts of the crypto sector, the smart trader entered before the short-term rally fully developed, riding the clear upward momentum.
The profit topped $2.5 million as Starknet extended its recovery, rising about 30% over the past seven days.
STRK was trading near $0.2104 after a 24-hour decline of around 8%, part of broader weakness and post-rally profit-taking.
Is HYPE set to rebound after the POPCAT controversy?
Hours after the STRK gains were recorded, the trader opened a new position — a 10x long on 77,598 HYPE, worth roughly $3 million.
The timing drew attention.
Hyperliquid was among the most watched DEX tokens last week following the POPCAT manipulation incident, which temporarily halted withdrawals on the platform.
HYPE saw significant price pressure after that event, losing more than 10% of its value over the past week.
With wallet activity acting as a sentiment gauge, supporters believe HYPE could rebound once the exchange manipulation debate settles.
Committing nearly $2.98 million to a 10x long underscores confidence in a short-term bullish trend despite broader market struggles.
HYPE remained relatively stable over the last 24 hours, down about 1.40% and trading around $38.41.
Technical indicators show a neutral backdrop as HYPE eyes its next move.
The Moving Average Convergence Divergence (MACD) appears flat with the signal line on the 1-hour chart.
Additionally, the Relative Strength Index (RSI) at around 48 reflects indecision.
Market participants are watching to see whether this smart whale’s activity becomes a reliable signal.
If history repeats itself, HYPE could be primed for a short-term bounce.