Hyperliquid Captures $8.67M Gold-Linked LONG Position with 20x Leverage

A wallet address beginning with 0x5f96 has built a $8.67 million (approximately KRW 118 billion) gold-linked GOLD long position on Hyperliquid, utilizing 20x leverage. The initial investment amounted to approximately $437,000 (around KRW 5.9 billion). TradingBeats reported that the address gradually purchased GOLD perpetual contracts via TWAP over a 90-minute period, with an average entry price of $4,304.86 and execution prices ranging between $4,294.9 and $4,313.6. TWAP allows large orders to be executed in multiple smaller transactions over time. Hyperliquid's official documentation states that individual TWAP executions are recorded separately.

GOLD is a perpetual contract tracking gold prices rather than holding physical gold. Hyperliquid's perpetual contracts have no expiration and adjust for price differences through funding payments. The margin is held in USDC. At the time of reporting, the GOLD price was $4,339, with the position showing an unrealized profit of approximately $68,700 (around KRW 93 million). No further buy or sell orders or public trades have been observed from this address since.