A significant crypto whale activity was observed as a whale address, 0xf822, deposited 6.3 million USDC into Hyperliquid and initiated a substantial short position on HYPE. The whale opened a 3x leveraged short position, amounting to 692,200 HYPE, with a notional value of approximately $49 million. The entry price for this position was $66.02, while the current mark price stands at $70.78, resulting in an unrealized loss of about $3.3 million.