A major whale (0xed41) executed a sophisticated trading strategy, accumulating 9,638 ETH ($28.76M) through spot purchases on Hyperliquid and Lighter platforms. Simultaneously, the same address opened a 20× leveraged short position on 9,940 ETH ($29.3M) as a hedge. This dual-position approach—combining long spot exposure with short leverage—typically signals either profit-taking preparation or downside protection amid market volatility. The nearly equivalent sizes across both legs suggest a calculated risk management tactic worth monitoring for potential market implications.