Someone with the wallet address 0x9cc just made the kind of bet that makes even seasoned crypto traders do a double-take. Over the past 48 hours, this anonymous trader has deposited roughly $16.6 million in USDC to build what appears to be the largest long position ever recorded in SPCX perpetual futures on Hyperliquid.
The result: approximately $18.5 million in SPCX exposure, with around $10 million in USDC still sitting as collateral. The unrealized profit on the position is roughly $676,000.
Inside the position
On June 11, 0x9cc initiated a $3.69 million 2x long position covering about 23,056 tokens. That was the opening salvo. Within a day, the trader had scaled into a position totaling around 100,580 SPCX tokens at roughly 2x leverage.
SPCX perpetual futures are derivative contracts that track pre-IPO shares of Space Exploration Technologies Corp., better known as SpaceX. These are crypto-native instruments that let traders speculate on SpaceX’s stock price before the company actually goes public.
