Market Trends & Trading Activities - A whale (0x2258) shorted Ethereum ($ETH) with 18x leverage [1] - The whale's short position in $ETH is valued at $625 million (20,474 $ETH) [1] - The whale has previously made over $15 million in profits [1] - The whale has a current loss of over $35 million on the $ETH short position [1] - Liquidation of the whale's $ETH short position will occur if $ETH price exceeds $3,32181 [1]

Hedge Fund Performance - Abraxas Capital's two wallets on Hyperliquid are experiencing losses exceeding $107 million [1] - The losses stem from short positions on $BTC, $ETH, $SOL, and other tokens [1] - These short positions serve as a hedge against the firm's spot holdings [1]

Market Sentiment & Coin Performance - Some CT accounts previously critical of BonkFun and USELESS coin are now celebrating shorting USELESS after its Bybit listing [1] - USELESS coin experienced a parabolic rally of over 7,000x [1] - BonkFun has surpassed the industry leader [1] Trading Strategy & Risk - The author encourages shorting USELESS coin, implying a high-risk, high-reward scenario [1]