A newly created wallet deposited 4.5 million USDC into Hyperliquid to short SPCX, suspected to be betting on a pump-and-dump pattern after the IPO.

Odaily Planet Daily News According to Lookonchain monitoring, a newly created wallet address 0xcc3A recently deposited approximately 4.5 million USDC into the decentralized derivatives platform Hyperliquid, and subsequently placed a limit order to short $SPCX.

The trading behavior shows that the address adopted a batch limit order shorting strategy. The market generally interprets this as a trading structure betting on SPCX experiencing an initial rise during IPO-related market conditions, followed by a sell-off correction (pump and dump).