The recent 50x huge ETH short order address on Hyperliquid is a short hedging position of Resolv Labs

the 0x20c...4f5 address that recently drew attention for shorting 30,000 ETH (approximately $110 million) 50 times on Hyperliquid is likely a delta-neutral hedging position for @ResolvLabs' delta neutral strategy, rather than a whale. The 0x20c...4f5 address has had multiple transfers with Resolv's 0xacB...b8e contract address and shares the same Binance deposit address. According to Resolv's documentation, they use perpetual contracts to short ETH for hedging purposes to achieve delta neutrality. Therefore, the 0x20c...4f5 address is likely used by Resolv for executing short hedges, rather than being a whale.