PANews reported on December 15th that, according to on-chain analyst @ai_9684xtpa, of the $7.63 billion in open interest (OI) on Hyperliquid in the past 24 hours, $3.7 billion was leveraged at 3-7 times, accounting for the largest share. This was followed by $2.77 billion in leveraged at 0-3 times. Leveraged funds above 7 times saw a sharp decrease.

• Lower leverage: Hedging institutions hold a large amount of short-selling funds; currently, the funds of the 1011 insider whale address account for 18.6% of the 3-7 times leverage.
• Higher leverage: There are theoretically more real traders and OIs with leverage of 10x or more, but they all lost everything after a few waves of hellish market conditions.