A newly created wallet deposited 5 million USDC into Hyperliquid and opened a $1.38 million 2x long position on CXMT.

TechFlow reports, on July 16, according to Lookonchain monitoring, a user deposited 5 million USDC into Hyperliquid after creating a new wallet and opened a 2x leveraged long position of 194,175 CXMT, with a position value of approximately $1.38 million and a liquidation price of $4.