According to Hyperinsight monitoring, on March 19th, the "Strategy Counterparty" address closed out all CL and NATGAS long positions and instead increased BTC and ETH short positions. The current position size has reached $105 million, but still retains $4.32 million of Brent crude oil long positions.

Gate News reports that on March 19, Sky co-founder Rune Christensen conducted trading operations on the HyperliquidX platform, using 20x leverage to short the S&P 500 Index (the benchmark index of the US stock market). At the same time, Rune increased the size of his long position in Brent crude oil (the international benchmark for crude oil prices), currently using 7x leverage. Additionally, TWAP orders are running to further increase the position.

Gate News report states that as of March 19, the tokenized stock market has grown from less than 100 million dollars at the beginning of 2025 to over 4 billion dollars, representing an increase of more than 40 times.

Gate News reported that on March 18, according to Hyperinsight monitoring, within the past 10 minutes, after BTC surged over $74,000 in a short period, a whale account starting with 0x8b6 opened a new BTC short position with 40x leverage at an average entry price of $74,050 with a position size of $1.12 million. The whale is currently in a floating loss of $1,300 (-4.3%).

An on-chain address increased its ZEC short position again on March 17-18, currently holding approximately 17,157 ZEC with unrealized losses of $800,000, making it the largest short on-chain. The address has been consistently shorting ZEC and previously experienced significant unrealized losses before gradually turning profitable. The address also holds short positions on ETH.

On March 18, US natural gas prices fell 3.6% briefly, leading all liquidations across the network, with a cumulative decline of 11.6%. The largest long position address was liquidated as prices fell below $2.91, with liquidation size reaching 638,364 contracts and losses of $200,000. Meanwhile, the address held BTC short positions and crude oil and gold long positions as hedges, but suffered losses on both sides.

Gate News, on March 18, according to Onchain Lens monitoring, a newly created wallet deposited 2 million USDC into HyperLiquid and opened a 10x leverage HYPE long position. Currently, the wallet's position size is 150,000 HYPE (valued at $6 million), with an entry price of $40.9 and a liquidation price of $29.04.

On March 17, affected by spot gold price breaking below $5,000 per ounce, the GOLD contract price on a certain decentralized derivatives platform declined, with the largest short address achieving unrealized gains of $620,000. Another address simultaneously opened short positions in both GOLD and SILVER contracts, with cumulative position size of $6.3 million, both of which have recorded unrealized gains.

On March 17th, Abraxas Capital increased its position by 25,100 WTI crude oil short contracts on-chain, bringing total position size to $14.9625 million, with an average price raised to $93.39. The position currently has a floating loss of approximately $514,300, with a liquidation price of $144.39. This address was previously the largest position holder whale on Hyperliquid and currently holds 34,000 BTC.

Citibank's analysis report indicates that, drawing on the experience of mainland payment institutions, Hong Kong's stablecoin market could reach $16 billion, with further upside potential driven by monetary growth and offshore demand. The Hong Kong Monetary Authority will announce the first batch of stablecoin issuance licenses.