On September 3, Volatility Shares 2x Ether ETF surged 8.89% in regular trading, reaching $26.895/share, with turnover of approximately $123 million. As a 2x leveraged Ethereum ETF, the fund amplified a broad rally in the underlying asset driven by significant on-chain activity.

On the catalyst front, a prominent Hyperliquid trader known as pension-usdt.eth saw a $191.6 million ETH short position fully liquidated, resulting in roughly $23.93 million in losses and removing a major source of overhead supply. Meanwhile, multiple whales aggressively accumulated long positions: the so-called Hyperliquid largest bull added 28,000 ETH and 1,000 BTC in longs, while a bit-affiliated entity increased its ETH long to 29,500 tokens worth $72 million. A separate address purchased 5,425 ETH for $13.55 million in a single half-hour window. According to Coinglass data, if ETH breaks above $2,555, cumulative short liquidation intensity across major exchanges could reach $988 million, suggesting further squeeze potential.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)