- A $8.56M short on PUMP is down $1.32M, with liquidation set to trigger at the $0.008890 mark.
- Wallet 0x102FA has funneled $20M+ into Hyperliquid, confirming an aggressive high-volume trading strategy.
- Despite heavy losses, no new funds have entered the wallet, leaving the short exposed and margin pressure mounting fast.
A trader operating wallet 0x7da is down over $1.32 million on a massive $8.56 million short bet against PUMP. The position is at risk of liquidation if PUMP’s market cap pushes past $8.5 billion, triggering forced closure.
$8.5M Short Position Slips Deep Into Red
In a post by Arkham, trader 0x7da was identified as holding the largest known on-chain PUMP short position to date. The trade totals 1.35 billion PUMP tokens, opened at $0.005362, and is currently marked at $0.006382.
The position is backed by $5.44 million in isolated margin and is running with 2x leverage. At current levels, it reflects a 36.5% unrealized loss, totaling $1.32 million in red PnL.
PUMP’s continued climb has overwhelmed multiple sell attempts near $0.0065, where dozens of red short markers appeared on the chart. Liquidation for this trade will be triggered if the token reaches $0.008890.
Funds Routed Rapidly Into Hyperliquid
The wallet behind the short—0x102FA—has been moving large volumes into Hyperliquid. Over the past 24 hours, it received $4M and $3M in USDC from Binance hot wallets, followed by an immediate $7M transfer to Hyperliquid Bridge2.
A proxy wallet labeled SingleOwnerMSCA also sent another $2M to 0x102FA, which was redirected to the same bridge hours later. The wallet has routed over $20 million into Hyperliquid since last year.
Older records show repeated patterns of USDC flowing from CEX hot wallets-Binance, KuCoin, and Bybit-into 0x102FA before being bridged to Hyperliquid. Most of the inflows happen within hours, without balance buildup.
Wallet Activity Confirms High-Risk Strategy
At press time, wallet 0x102FA holds only 0.35 ETH and a negligible USDC balance, worth a total of $1,023.11. The Arkham dashboard shows a volatile balance history, with a sharp drop in Q2 2025 and partial recovery in early July.
Despite over $2 million withdrawn in the last 50 days, the wallet has recorded no new deposits. This confirms funds are actively managed and deployed rather than passively held. The activity pattern underscores an aggressive style-short-term, high-volume trading with minimal idle capital left on-chain.
Final Outlook: Liquidation Risk Now Looms
With the price nearing the $0.008890 liquidation threshold, the short position sits in a tightening danger zone. Every tick higher squeezes the remaining margin, leaving little room for error.
PUMP’s price action remains firm, and volume is rising, meaning any sudden breakout could wipe the position instantly. If momentum holds, the $1.32 million unrealized loss could turn into a full-scale liquidation within days.
