- A smart trader locked in more than $2.5 million on a long Starknet position opened three days ago.
- He has since rotated into HYPE with a 10x long worth about $2.98 million.
- The Hyperliquid token may be poised for an upward move.
Smart-money participants are celebrating gains despite a broader bearish sentiment that currently keeps Bitcoin around $95,000.
One trader drew attention with a high-risk leveraged bet.
According to on-chain tracker Lookonchain, the trader secured over $2.5 million in returns from a long Starknet (STRK) position executed three days ago.
Notably, he then shifted capital into a new position, opening a 10x long on HYPE (Hyperliquid).
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 back-to-back moves come amid uncertainty across the financial landscape, where many traders are taking a wait-and-see approach.
Still, the recent trades have sparked optimism among HYPE holders, signaling confidence in the token’s potential for a short-term rally.
STRK long reaches its target
On-chain data shows the wallet opened a 5x long on 29.5 million Starknet tokens—an exposure of roughly $6.7 million—three days ago.
The trader entered as STRK began forming a short-term base.
STRK has been on observers’ radar lately amid ecosystem growth, a rapidly expanding staking market, and uncertainty tied to the broader market pullback.
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 fear gripping the crypto sector, the smart trader positioned ahead of the short-term rally and rode the clean uptrend.
His gains topped $2.5 million as Starknet extended its recovery, rising about 30% over the past seven days.
STRK traded at $0.2104 after slipping 8% in the last 24 hours amid broader weakness and profit-taking following the recent run-up.
Is HYPE ready to rebound after the POPCAT scandal?
Hours after the STRK gains were reported, the trader opened a new position: a 10x long on 77,598 HYPE—roughly $3 million in exposure.
The timing drew attention.
Hyperliquid has been one of the most-watched DEX tokens this past week following the POPCAT manipulation incident, which temporarily halted withdrawals and put pressure on HYPE’s price.
HYPE suffered notable bearish pressure after the incident, losing more than 10% over the past week.
With on-chain wallet activity serving as a sentiment gauge, some holders believe HYPE is set to rebound once the exchange-manipulation debate is resolved.
Committing nearly $2.98 million to a 10x long underscores confidence in a short-term upside despite the broader market struggle.
HYPE remained relatively steady over the last 24 hours, down about 1.4% and trading near $38.41.
Technical indicators present a neutral picture as HYPE prepares for its next move.
The Moving Average Convergence Divergence (MACD) is relatively flat on the 1-hour chart, with the signal line showing little momentum.
The Relative Strength Index (RSI) sits around 48, signaling indecision among traders.
For now, market participants are watching to see whether this smart-money whale becomes a reliable signal.
If history repeats itself, HYPE could be positioned for a rebound in the near term.