
5lubinbing
@5lubinbing
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Let me explain how Hyperliquid works:
He kept buying ETH. Because his previous transactions were so successful, it led to FOMO in the market, and other market makers also followed suit to increase or close positions, further pushing up the price of ETH. He then used the profits to continue to increase his positions, while withdrawing floating profits to reduce margin usage.
This is equivalent to a circular leverage strategy: pledge ETH to borrow USDT, then buy ETH to push up the price, and then borrow more USDT, in an infinite cycle.
For the big brother, the profit withdrawn is greater than the deposited margin, which is his profit model. He deposited a total of 15 million US dollars today and withdrew 17 million US dollars, with a net profit of 2 million US dollars. 0 reply
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