Trader @qwatio has initiated a 3x short position on XPL, utilizing a $33,000 USDC margin on the Hyperliquid platform. The position involves 20,000 XPL units at an opening price of $0.5768. This move follows a significant loss on August 7, when @qwatio's ETH short position was liquidated, erasing $29 million in principal and profits accumulated over six months from an initial $3 million investment.