Crypto Whale Adjusts $100M+ HYPE Short After Strategic Token Sell-Off

A significant position shift has been recorded from crypto trader loracle.hl, who deposited 616,675 HYPE (approximately $36.76M) into Hyperliquid and subsequently sold the majority of it, reducing his holdings to 53,330 HYPE worth about $3.06M.

Following the sales, the capital was primarily redirected to strengthen his existing HYPE short position, effectively lowering his risk of liquidation.

He currently maintains a 1.8 million HYPE short valued at roughly $103.7M, with unrealized losses narrowing to around $22M. His liquidation level has been updated to $83.33.

In addition, he also holds 626,289 aHYPE, valued at approximately $40M.

The activity comes in the aftermath of HYPE’s rally to a new all-time high of $62.18, after which the token pulled back and is now trading around $57.95, marking a decline of roughly 7% from its peak.

Source: Lookonchain