5x Leveraged HYPE Trade Swings From Losses to $12.9M Unrealized Profit

On-chain data shows that more than six months ago, trader 0x082e opened a 5x-leveraged long position on 1.38 million HYPE tokens, worth about $66.3 million at the time. The move made the trader the largest recorded on-chain bull for HYPE.

In the months that followed, as the Hyperliquid-linked token declined, the position entered a steep drawdown, at one point recording losses exceeding $25 million.

More recently, however, HYPE’s price rebound has reversed the trend, pushing the position back into profit and leaving it with an unrealized gain of approximately $12.9 million.

Source: Lookonchain