Whale Sells $2.41M in HYPE, Then Opens $10.5M Short Position

On-chain data shows that whale wallet 0xde42 sold 50,000 HYPE, valued at roughly $2.41 million, over the past 10 hours.

Shortly after this sale, the same wallet increased its bearish exposure by opening a 10x leveraged short position totaling 223,404 HYPE, worth about $10.55 million, on Hyperliquid.

Source: Lookonchain