On Hyperliquid: where insiders earn, while the masses' followers lose

Hyperliquid has become an arena where financial dramas unfold – both spectacular successes and catastrophic failures. Observing transactions on the blockchain, a clearly divided world is visible: those who understand the game are making millions, while those chasing quick profits are losing everything.

The Market According to Psalms: Three Types of Players, One Reality

On Hyperliquid, three main categories of participants can be distinguished. The first group consists of emotionally engaged traders – those who keep coming with cash, hoping for miracles. The second are patient experts – individuals who wait months for a single moment. The third are algorithmic machines that profit from every minimal price fluctuation.

Maji Bro’s story perfectly illustrates the first group. This player fell into a trap they set for themselves. Their profile shows 77% winning trades – sounds good, right? The problem is, the risk-reward ratio is 1:8.6. When they win, they do so quickly – on average within 31 hours. But when they lose, they hold their position for 109 hours, often adding more money instead of pulling out. The result? Losses reaching $46.5 million. Their portfolio is 94% long positions, 6% short – a perfect storm when the market drops. During the panic on October 11, their profit of $15 million turned into a loss of over $11 million. It’s a textbook lesson on how NOT to trade.

Profitable Patience: Professional vs. Hobbyist

The complete opposite is a mysterious player who made just five trades in half a year – but what trades they were. Their success rate: 80%, profit: $98.39 million. While Maji kept depositing money hoping for a rebound, this whale consistently withdrew profits. Their masterful lesson? They deposited $80 million, shorted BTC on October 11, waited five days, and left with over $92 million in profit. Then they simply disappeared – no chaotic trades, no emotional decisions. On October 20, they returned once more, earning $6.34 million on another short. Their current long position on ETH worth $269 million shows an unrealized profit of $17.29 million. This story teaches that sometimes the best strategy is to wait and be precise, rather than active.

The Kingdom of Algorithms: When Machines Take Over

Address 0x5b5d51203a0f9079f8aeb098a6523a13f298c060 ranks number one in profits on the platform. This entity deposited $1.11 billion and withdrew $1.16 billion – net: $143 million profit. It’s a classic market maker operating through algorithms. It opens large base positions, then manipulates sizes for seconds, earning from arbitrage and high-frequency trading. The second and third top profit-makers do the same – 51% of their transactions are orders on both sides of the order book, generating tens of thousands of dollars daily with an average transaction of $733. For retail traders, this is unattainable – these players benefit from lower fees, fast algorithms, and hardware support.

When the Small Devours the Large: Exponential Growth and Collapse

Another case – seemingly an ordinary retail trader with a deposit of $46,000. Until December, it was disastrous: lost 85% of capital, traded chaotically, held losing positions on small tokens. But on December 2, something changed. Over seven days, they won 21 consecutive trades. Capital grew from $129 to $29,000 – an exponential growth curve. How did they do it? They focused solely on ETH (, previously trading over 10 tokens), shortened the holding time from 33.76 to 4.98 hours, switched to fast “rolling” – increasing the stake with each upward move. December 3: 1 ETH, profit $37. December 5: 5-8 ETH, about $200. December 7: 20 ETH, $1,000. December 9: 95 ETH, $5,200. The growth was spectacular, but leverage increased from 3.89x to 6.02x. Unfortunately, this was too strong a medicine – when the market turned downward, their position lost over $9,000, halving the profits. This is a small matter in the context of their previous earnings, but a warning sign.

Obsession with One Token: How Even $236 Million Doesn’t Protect

The last whale – a SOL victim. Deposited $236 million, of which 86.32% went into longs. Out of 700 trades, 650 were long positions. They earned over a million on FARTCOIN, similarly on SUI, nearly a million on ETH and BTC. But on SOL? A loss of $9.48 million. If you exclude this, they would be a great trader – earning around $4 million on other tokens. The problem is, they hold longs on SOL despite a continuing downtrend, constantly “wearing down” with the market, unable to detach from it. Lesson: even with enormous capital, emotional attachment to a single asset is deadly.

Deep Lessons: Respect Instead of Betting

In the world of Hyperliquid, there is no holy grail. These five stories show that the size of capital does not equal skill – Maji loses with $46 million in losses, while an unknown trader without algorithms achieves exponential growth, but subsequent bad decisions lead to losses. For the average investor, the most valuable lesson is not “how to make a billion,” but “how to avoid the fate of Maji Bro” – accepting losses instead of enlarging them, not fighting the trend, and not emotionally attaching to any token.

Respect the market, respect the algorithms, and above all, respect yourself – this may be the oldest and newest wisdom the market gives you every day.