🔍 On-chain analyst Yu Jin discovered that a mysterious address 0x20c...4f5 recently shorted 30,000 ETH (approximately $110 million) at 50x leverage on Hyperliquid, which is actually a delta-neutral strategy short hedge position of Resolv Labs, rather than a whale! 🐋

The address 0x20c...4f5 frequently interacts with Resolv's contract address 0xacB...b8e and shares a Binance deposit address. According to Resolv's documentation, they hedge by shorting ETH through perpetual contracts.

This operation has sparked quite a discussion. What do you think? Feel free to share your views in the comments!