In a significant move within the cryptocurrency market, three addresses have collectively deposited a staggering 247 million USDC into the Hyperliquid platform on December 24, 2025. This influx of capital has led to the opening of 169 million in TST long positions, positioning these addresses as major players in the TST market. The source reports that this activity could signal a bullish trend for TST in the near future.
Recent Transactions and TST Open Interest
The recent transactions account for 423 of the total TST open interest on Hyperliquid, indicating that these addresses are now among the leading holders of TST. On-chain analyst Ai Auntie has pointed out that the coordinated nature of these actions, which included transferring BTCB from Gate and withdrawing USDT, suggests that a single entity may be behind these addresses.
Concerns Over Market Manipulation
Market observers are raising alarms about the potential for market manipulation, highlighting concerns over liquidity risks and possible price fluctuations in TST. Despite experiencing a 90-day decline, TST has recently witnessed a remarkable surge in trading activity, with a 404% increase reported over the last 24 hours, signaling heightened interest and volatility in the market.
On December 19, 2025, a trader fell victim to an address poisoning scam, resulting in a loss of nearly 50 million USDT, highlighting the risks in cryptocurrency transactions. This incident contrasts sharply with the recent influx of capital into the TST market. For more details, see this article.
