TechFlow, September 14 — According to on-chain analyst EmberCN @EmberCN, an account named "btc@tuta.com" on Hyperliquid holds the largest current short position in PUMP tokens. The account has shorted 8.56 billion PUMP tokens with 5x leverage, amounting to a position value of $64 million, at an entry price of $0.00338. The current price of PUMP has already more than doubled its entry price, resulting in an unrealized loss of approximately $35 million.
The account also holds other short positions in SOL and LINK, bringing its total unrealized loss to $44.1 million. Analysis suggests that due to its frequent trading activity, this account may be used for arbitrage or hedging purposes.
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