A pseudonymous Hyperliquid trader has grown a $27,950 deposit into nearly $3 million in two months, riding leveraged long bets on tokenized Micron and Intel stock perpetuals.
Key Points:
- Wallet 0xcf6 grew a $27,950 stake into nearly $3 million since early April through leveraged longs.
- Micron and Intel perpetuals drove the run, with unrealized profits near $1.96 million and $1.01 million.
- Funding fees have drained more than $90,000, and most Hyperliquid traders lose money over time.
How Trader 0xcf6 Built The Account
On-chain analytics firm Arkham tracked the wallet, labeled 0xcf6, which opened in early April with $27,950 and moved straight into leveraged longs on tokenized stock perpetuals.
Micron Technology and Intel were the very first trades, and the trader kept piling in as the chip stocks climbed. The two positions still rank as the wallet's largest holdings today, by a wide margin.
Before settling on the chipmakers, the trader chased a string of hyped technology and artificial intelligence names, including memory maker SanDisk. The Micron long now shows an unrealized gain of nearly $1.96 million, while the Intel position sits about $1.01 million ahead. The account peaked above $3.1 million in late May and now hovers close to $3 million, a run that recalls other outsized winners on the same decentralized exchange.
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Six Open Hyperliquid Positions
Block explorer HypurrScan lists six long positions, four tokenized stock perps and two crypto perps, with Micron leading at 10x leverage worth $3.86 million and Intel close behind at $2.04 million. The wallet also runs a HYPE (HYPE) long up about $123,000, a Meta stake down roughly $16,000, a BlackBerry position up around $20,000, and a smaller Venice Token (VVV) bet in the red.
The stock perps track real share prices but settle in USDC (USDC) and carry no shareholder rights, a structure that lets the wallet ride equity moves without touching a traditional brokerage. Venice Token has slipped about 10% on the day, while Meta remains the only other losing bet in the book right now.
Why Survivorship Bias Matters
Leverage cuts both ways.
Funding payments have already drained more than $90,000 from the account, a steady cost that leverage imposes even on winning trades. History also favors the house, since most Hyperliquid traders lose money over longer stretches. Ivan Lim warned that "survivorship bias is undefeated," noting that for every account flipping $30,000 into $3 million, hundreds run the same playbook and end up with scraps.
HYPE has powered much of the optimism, climbing more than 19% over the past week to a record near $74. The token's surge has fattened leveraged longs across the venue, even as funding costs nibble at open positions. Whether 0xcf6 keeps these paper gains may hinge on how long the tokenized stock rally lasts, since the bulk of the account's value still rides on Micron and Intel.
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