Crypto whale opens $14.3M XMR long targeting $516 on Hyperliquid

A crypto whale opened a $14.3 million 4x leveraged long position on Monero (XMR) through Hyperliquid, betting the privacy token climbs to $475-$516 per coin.

Blockchain analytics firm Lookonchain identified the trade on Aug. 10, reporting that a newly created wallet deposited 3.56 million USDC into the derivatives platform before opening the position on 36,000 XMR, valued at approximately $14.33 million at the time of the transaction.

Take-profit orders are set across the $475-$516 range, implying a 20-30 percent gain from XMR's current price near $395-$400. The token was up 2.4 percent in the last 24 hours. The leveraged position exposes the trader to amplified losses if XMR moves against the bet, with liquidation risk rising as the price approaches the entry level.

The trade comes as Monero faces persistent delisting pressure from major centralized exchanges over regulatory concerns tied to its privacy features. Hyperliquid offers an alternative venue without traditional KYC requirements, making it attractive for large traders seeking XMR exposure despite limited spot market access.

Monero has been one of the strongest-performing privacy-focused cryptocurrencies in recent months, supported by growing demand for privacy assets and technological upgrades. The implementation of FCMP++, a major upgrade designed to strengthen Monero's privacy guarantees, has drawn attention from developers and traders. The upgrade is expected to further differentiate XMR from other privacy tokens such as Zcash, which has seen comparatively muted interest.

XMR remains closely linked to illicit fund flows. Last month, bad actors used XLM in a $120 million USDT laundering operation that coincided with XMR climbing from $330 to $438 before Tether froze approximately $72 million linked to the activity. More recently, Coinsbuy wallets reportedly lost $7.9 million in a cross-chain attack, with the attacker laundering stolen assets into Monero through exchanges. ChangeNOW froze a six-figure amount of the stolen funds.

The whale's directional bet adds to a broader trend of large traders using decentralized perpetual futures to gain exposure to privacy tokens facing centralized exchange delistings. Cardano founder Charles Hoskinson said in May that there was no reason Cardano could not cooperate with Monero and Zcash, pointing to continued mainstream interest in privacy-focused protocols.

If XMR reaches the whale's take-profit targets, the position would yield roughly $2.9 million to $4.3 million in profit before fees. Conversely, a significant drop could trigger forced selling, adding volatility to an already thinly traded market. The broader crypto market has been mixed this week, with Bitcoin holding above $65,000 and total market capitalization near $2.9 trillion, providing a relatively stable backdrop for altcoin positioning.

This article is for informational purposes only and does not constitute investment advice.