What is the big brother of HYPE airdrop A9 currently focusing on?

Author: Azuma, Odaily Planet Daily

With the overall market showing signs of recovery, the enthusiasm for airdrop interactions in the cryptocurrency community seems to be on the rise.

This is especially true after Variational announced its tokenomics and airdrop details, clearly stating that 32% of the total token supply will be allocated to the community (for more details, refer to "++Variational Announces Airdrop Details, How Much Are Your Points Worth?++"). The interactions in the Perp DEX track have noticeably become more lively. Besides Variational, users are actively looking for the next platform worth investing time and money in, from the clearly defined prize pool of Lighter Robinhood's independent market to the dYdX team's new project Arcus, in hopes of earning substantial returns.

For ordinary users who are unsure how to make choices, the interactions of whales themselves are worth paying attention to—they have previously accumulated significant positions in early protocols and received airdrops that could change their wealth trajectory. Now, where these individuals are directing their funds and trading volume may provide an interesting perspective for observing the next round of Perp DEX competition.

The focus of this article, an0n2498.hl, is a recognizable representative among these whales.

Who is an0n2498.hl? HYPE Airdrop A9

an0n2498.hl is a relatively active whale on social media who has not overly concealed personal information. Their X account is @punk2498_, and their main on-chain address is 0x7bfee91193d9df2ac0bfe90191d40f23c773c060.

On November 29, 2024, Hyperliquid conducted its genesis airdrop. an0n2498.hl, due to their early active interactions, received 474,719 HYPE in the genesis airdrop, which is worth up to 37.74 million USD at the current price of 79.5 USD.

More noteworthy than the one-time airdrop profit is an0n2498.hl's subsequent choices. Unlike other whales who profited significantly, an0n2498.hl did not rush to cash out after receiving the HYPE airdrop but instead has long regarded HYPE and its related ecosystem assets as core holdings, continuing to participate in the Hyperliquid ecosystem through various staking and yield products. They have publicly confirmed multiple times that they have hardly sold any HYPE, which has allowed them to fully benefit from HYPE's past significant price increases.

++Debank++ data can verify this description, as an0n2498.hl is currently actively participating in HYPE staking through various forms such as hlHYPE, vkHYPE, kHYPE, kmHYPE, d2HYPE, liquidHYPE, and hbHYPE, with a total staking value exceeding 30 million USD. This indicates that an0n2498.hl still retains the vast majority of the HYPE positions acquired during the airdrop.

What is the big brother's new choice after HYPE?

If HYPE was the most successful bet for an0n2498.hl in the past two years, then Variational might be the next opportunity they are most looking forward to.

According to Variational's trading leaderboard, an0n2498.hl currently ranks second in the platform's historical trading volume, with a cumulative trading volume of approximately 3.546 billion USD. More notably is the user level—an0n2498.hl has reached the highest "Infinity" level and is the only user in the entire network with this level.

an0n2498.hl has also publicly expressed their extreme optimism about VAR on X: "I won't sell a single VAR during TGE, and I will also replenish through spot and contract trading. My bullish sentiment on VAR is simply beyond words."

From HYPE to VAR, an0n2498.hl's strategy seems to remain unchanged—rather than quickly cashing out after the airdrop, they prefer to continue betting on protocols they believe have long-term value.

Another name frequently mentioned by an0n2498.hl in relation to Perp DEX is Entropy. In a pinned post on X, an0n2498.hl believes that the Entropy team is outstanding and that the project is currently relatively low-key, with potential returns worth noting. They also specifically mentioned that they are the number one trader by trading volume on Entropy, with a significant lead.

When questioned by the community about their choice logic, an0n2498.hl summarized their favored directions into three groups: first, Hyperliquid and its surrounding ecosystem, including Entropy and Kinetiq; second, Variational and its potential surrounding ecosystem; and third, Ink, Nado, Quotrons, and Kraken-related ecosystems. They believe these three directions are distinct and should not be simply conflated.

As for Lighter, an0n2498.hl's attitude is unequivocal—they do not like it, have never participated, and do not plan to in the future...

Can be referenced, but do not blindly trust

For users looking for the next interaction target, an0n2498.hl's choices provide a noteworthy observation sample—Variational is the current focus of their bets, while Entropy is another line of deep involvement. Their selection between different Perp DEX also reflects their judgment on ecological development and potential returns.

However, the interaction records of whales are ultimately just a reference and not something that can be directly replicated. The capital occupation, trading costs, and potential losses they can bear may not apply to ordinary users; high trading volume does not equate to high returns, nor does it guarantee ideal airdrop returns in the end.

What is truly worth studying may not just be what they are focusing on, but why they choose these projects, and whether the risks and returns behind these choices match their own situations. As the airdrop craze heats up again, rather than blindly following whales, it is better to first understand the incentive mechanisms of the projects before deciding which ones are worth participating in and which ones do not need to be followed.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.