Hyperliquid Wallet Turns $28K Into Nearly $3M on Micron, Intel

A Hyperliquid wallet identified as 0xcf6 turned an initial deposit of $27,950 into nearly $3 million since early April, based on on-chain analytics from Arkham. The account used 10x leveraged tokenized stock perpetuals and concentrated its positions in Micron and Intel.

The wallet opened in early April and immediately added leveraged long positions in Micron Technology and Intel, then continued to add to those positions over several weeks. The two trades account for most of the gains: the Micron long shows an unrealized gain of about $1.96 million and the Intel long is up about $1.01 million.

The account peaked above $3.1 million in late May and currently sits close to $3 million. HypurrScan, a Hyperliquid block explorer, shows the wallet currently running six open long positions: a 10x Micron long valued at roughly $3.86 million with about $1.96 million unrealized gain; a 10x Intel long worth about $2.04 million with roughly $1.01 million gain; a 10x Hyperliquid (HYPE) long near $1.69 million with about $123,000 gain; a 10x Meta (META) long at about $454,000, down roughly $16,000; a 10x BlackBerry (BB) long near $198,000, up about $20,000; and a 3x Venice Token (VVV) long worth about $35,000, down about $1,800.

The tokenized stock perpetuals on Hyperliquid track underlying share prices but settle in USDC and do not confer shareholder rights. Funding payments tied to maintaining leveraged positions have cost the wallet more than $90,000 so far. Leverage increases both potential gains and potential losses, and funding fees are a recurring expense for these positions.

Market data show the HYPE token trading near $72 and up more than 19% over the week at the time of the snapshot, while Venice Token had fallen about 10% on the same day. On-chain observers note that many traders using the platform experience losses over longer stretches.

On the social platform X, user Ivan Lim wrote, “Survivorship bias is undefeated. For every trader who turned $30K into $3M on AI stocks like Micron and Intel, there are hundreds who turned $30K into $3K trying the same thing.”

The wallet’s returns remain exposed to price moves and the risk of liquidation associated with high leverage.