ETH Whale Holding $40M Unwinds $3M XPL Long at TWAP, Driving XPL Funding Rate to -0.0040%

COINOTAG News reported on August 23 that on-chain MLM data identifies a new wallet which deposited approximately $12 million into Hyperliquid two days prior and is executing a measured unwind of positions. The address is liquidating a $3 million XPL long via TWAP execution while concurrently opening a $1.5 million WLFI short, activity that has compressed the funding rate to -0.0040% (annualized ~-35%). The same wallet retains sizable directional exposure, with roughly $40 million ETH longs and $11 million SOL longs on book. These on-chain flows and funding dynamics are material for traders monitoring leverage, basis and short-term funding risk in the crypto derivatives market.