Daily Whale Report: July 16, 2026
Tracked whales held their tilt toward index perps. Over the last 24 hours, the wallets we track on Hyperliquid moved $111.7M in trades of $50,000 or larger, and 93% of that went into tokenized-stock perps, up from 81% of flow a day earlier. That made it the busiest session in the short window we have tracked so far.
When the desks we follow keep their weight in the same place two days running, it is usually worth a closer look. Here is where the money actually went.
The tape
Start with the wider board the whales were trading into. Bitcoin fell 1% to around $63.8K, Ethereum fell 3% to around $1.9K, Solana fell 3% to around $75, and XYZ100 fell 2% to around $28.9K. As it stands now, funding on Bitcoin is positive, meaning longs are the side paying to hold.
The day in numbers
| Metric | Value |
|---|---|
| Total tracked flow | $111.7M |
| Buy / Sell | 32% / 68% |
| Tokenized-stock share | 93% |
| Active markets | 30 |
| Busiest markets | XYZ100 $69.0M, SP500 $9.8M, BTC $7.2M, CL $4.3M, NVDA $4.0M |
What stood out
A tracked wallet bought $1.4M of SP500, roughly 3.5x the size it usually trades in that market. SP500 was down 1% on the day, so the trade cut against it, in a market that now carries $501.8M of open interest.
Hidden Spread, up 147% over the last 30 days and among the top 29% of the wallets we track sold $1.0M of BTC, then bought $661K of XYZ100 — all inside the same 24 hours. Cutting BTC and pressing XYZ100 in the same session is a book being repositioned, not a single directional swing.
The tokenized-stock story
$104.2M of today's tracked flow, 93% of everything the wallets touched, went into tokenized-stock perps — leveraged, on-chain bets on names like the S&P 500 or a semiconductor index (how these work). The busiest were XYZ100 at $69.0M, SP500 at $9.8M, CL at $4.3M, NVDA at $4.0M. That positioning tends to show up in public wallets before it shows up in the price, which is the whole reason to watch it.
For scale, the $69.0M the wallets put into XYZ100 went into a market that now carries $215.6M of open interest in total. On a venue this young, tracked desks are not a rounding error there — they are a visible share of who is in the trade.
One wallet to watch
One desk did more of the heavy lifting than any other. Degen Block moved $175,091 today, working across BTC.
As of now it is holding a $2.3M short in BTC, a $1.5M short in HYPE. Those are live, and you can watch them change in real time.
What we are watching next
A couple of things line up with where the whales already are. SKHY reports in 2 days, and tracked wallets were already active in it today. Tracked wallets are sitting on a combined $159.7M net short in ETH, the clearest positioning lean on the board right now. When positioning and a known catalyst point the same way, the next few sessions are usually the ones worth watching.
The takeaway
The point of reading on-chain is simple. The trades are public, the wallets are public, and the positioning shows up before the story does. You can follow the same flow as it updates on the Mirror-X scanner. The same markets these wallets trade are live on the Mirror-X terminal.