Crypto Whale Faces $3.3M Unrealized Loss on $49M HYPE Short Position

A crypto whale wallet identified as “0xf822” has deposited $6.3 million in USDC on Hyperliquid and opened a 3x leveraged short position on HYPE.

The position includes 692,200 HYPE tokens, valued at around $49 million, with an entry price of $66.02. As HYPE trades at $70.78, the trade is currently facing an unrealized loss of approximately $3.3 million.

The wallet’s total exposure now stands at $126.8 million spread across five positions, while its lifetime trading performance remains positive with reported gains of $4.39 million.

Source: Onchain Lens