Svmuu News As HYPE surged past the $70 mark, the largest HYPE short seller, "Trader Loracle," has been steadily reducing his short position over the past few hours. As of press time, his 5x leveraged short position has decreased from $102 million to $60.94 million, with his current losses still reaching $22.58 million (-74%).
Reports indicate that over the weekend, Loracle transferred 893,000 HYPE tokens from the chain into Hyperliquid. Amid the price rally, the value of these tokens appreciated from $54.5 million to $64 million. They have not been sold yet.
Over the past month, this whale has unlocked a total of 1.115 million HYPE (worth approximately $63.51 million) in two separate instances. According to clear on-chain records, they sold 557,000 HYPE on May 21 (the day HYPE first broke its all-time high), valued at approximately $33.35 million. (HyperInsight)