SengonXyz

Zusammenfassung
Polygon erlebt eine rekordverdächtige Gebührenerzeugung, die hauptsächlich durch die Aktivität auf dem Prognosemarkt angetrieben wird, coupled mit einer signifikanten realen USDC-Adoption durch Flughafenerstattungsdienste. Während diese Entwicklungen eine erhebliche Netzwerk-Nützlichkeit und wachsende Akzeptanz demonstrieren, haben sie sich noch nicht in signifikante $POL Preissteigerungen übersetzt, aufgrund struktureller Tokenomics-Herausforderungen und konzentrierter Gebührquellen.
Netzwerkgebührenanalyse

Rekordgebührenleistung
Polygon erzielte während des Zeitraums vom 10. bis 16. Februar 2026 eine außergewöhnliche Gebührenerzeugung, mit klaren Spitzen, die durch spezifische Protokolle angetrieben wurden:

Executive Summary
Hyperliquid's top 20 whale positions (>$1M) show a nearly balanced market sentiment with $392.23M in long positions versus $397.16M in short positions across major cryptocurrencies. The most significant positions are concentrated in $ETH and $BTC , with several whales taking substantial leveraged bets in both directions. Coinglass

Top Whale Positions Overview
Whale Positions by Symbol
Top 20 whale positions on Hyperliquid (>$1M notional). Long: 9 ($392.23M), Short: 11 ($397.16M). ...
Key Whale Activity by Asset
Ethereum (ETH) Positions:
Largest ETH Long: $112.30M position (15x leverage) currently down -$22.09MSignificant ETH Short: $32.97M position (25x leverage) up +$19.63MTotal ETH exposure: $175.27M across 4 major positions
Bitcoin (BTC) Dominance:
10 of the top 20 positions are in BTCTotal BTC exposure: $354.87MMixed sentiment with both large longs and shorts active
HYPE Token Concentration:
4 positions totaling $145.71MMixed performance: two positions profitable, two underwaterAll positions using 5x leverage
Market Sentiment Analysis
SentimentPosition ValueNumber of PositionsNotable CharacteristicsBullish (Long)$392.23M9 positionsHigher leverage (avg 15x), mixed performanceBearish (Short)$397.16M11 positionsExtreme leverage (avg 18x), generally profitable
Notable Observations:
The largest long position (ETH, $112.30M) is significantly underwater at -$22.09MShort positions are generally profitable, with the top BTC short up +$20.34MLeverage ranges from 3x to 40x, indicating varied risk appetites
Risk Assessment
High-Risk Positions:
0x8af7...fa05: BTC long with 40x leverage, down -$13.32M0x939f...04d2: BTC long with 40x leverage, down -$4.35M0xa5b0...1d41: ETH long with 15x leverage, down -$22.09M
Successful Positions:
0x1b52...d41b: BTC short with 20x leverage, up +$20.34M0x35d1...acb1: SOL short with 20x leverage, up +$34.94M0x20c2...44f5: ETH short with 25x leverage, up +$19.63M
Implications for Market Outlook
The nearly balanced long/short ratio suggests whales are divided on market direction. However, the fact that short positions are generally profitable while major long positions are underwater indicates recent market pressure has favored bears.
The concentrated HYPE positions (nearly $150M total) represent significant smart money interest in this asset, though performance is mixed with two positions profitable and two underwater.
Limitations
This analysis is limited to Hyperliquid exchange data and represents only positions exceeding $1M. Whale activity on other exchanges and in spot markets is not captured in this dataset. The data is current as of 2026-02-06 08:35:45 UTC. Coinglass
Bottom Line: Smart money is actively trading both sides of the market with high leverage, but recent price action has favored short positions. The massive ETH long sitting at a $22M loss represents a potential pressure point if forced to liquidate.