A newly identified crypto whale has placed a massive $14.33 million leveraged long position on Monero (XMR) using the Hyperliquid trading platform, signaling strong bullish conviction in the privacy coin. According to blockchain analytics platform Lookonchain, a freshly created wallet deposited 3.56 million USDC into Hyperliquid before opening a 4x long on 36,000 XMR.
The trader has already set take-profit orders ranging from $475 to $516, indicating expectations of a significant rally from current levels. While such a leveraged bet can amplify gains, it also exposes the whale to amplified losses if XMR reverses course. The wallet owner remains anonymous, with the position size and price targets being the only visible clues about their market outlook.
Monero has been one of the standout performers among privacy-focused cryptocurrencies in 2026, buoyed by growing demand for financial confidentiality and key technological improvements. The recent implementation of FCMP++ is designed to strengthen Monero’s transaction privacy, reinforcing its position as a leading privacy network. However, XMR’s anonymity features have also placed it at the center of multiple investigative cases involving stolen funds and laundering operations.
In recent weeks, Monero was linked to a $120 million USDT laundering scheme, during which XMR surged from $330 to $438 before Tether froze approximately $72 million of the tainted funds. A separate cross-chain attack on Coinsbuy reportedly drained $7.9 million from Tron and Ethereum wallets, with the attacker converting stolen assets into Monero via exchanges. ChangeNOW froze a six-figure sum tied to the incident, and Coinsbuy temporarily halted deposits and withdrawals.
Adding broader industry context, Cardano founder Charles Hoskinson stated in May that there is no reason Cardano could not cooperate with Monero and Zcash. Such endorsements, combined with technical upgrades and persistent demand for privacy tools, paint a complex picture of Monero’s role in the crypto ecosystem. The whale’s leveraged bet, therefore, arrives as XMR navigates both bullish technology milestones and regulatory scrutiny over illicit use.
