ME News reports that, as of June 2 (UTC+8), according to Hyperinsight monitoring, HYPE’s largest short seller, trader Loracle, has been steadily reducing and cutting losses since HYPE rose above $70. From yesterday to today, Loracle has cumulatively reduced positions by over $90 million. The size of Loracle’s 5x leveraged short position has dropped from $102 million to $9.2 million, with current unrealized losses still amounting to $3.4 million (-74%). As of this writing, Loracle continues to place buy orders. It is reported that over the weekend, Loracle transferred 893,000 HYPE spot tokens to Hyperliquid. As the price rose, the value of this spot holding increased from $54.5 million to $65 million and remains held in spot, unsold. Previously, over the past month, this whale unlocked HYPE twice, totaling 1,115,000 HYPE (valued at approximately $63.51 million). According to on-chain records that are clearly traceable, Loracle sold 557,000 HYPE on May 21—the day HYPE first broke its all-time high—amounting to approximately $33.35 million. Address: 0x8def9f50456c6c4e37fa5d3d57f108ed23992dae (Source: BlockBeats)
HYPE price surge forces top short trader to cut over $90M in positions
KuCoinFlashShare
Summary
On June 2, 2026 (UTC+8), the HYPE price surged above $70, forcing the top short position on Loracle to liquidate over $90 million in positions. Loracle’s 5x leveraged short exposure dropped from $102 million to $9.2 million, resulting in a $3.4 million loss (-74%). The trader is still buying to fully close the position. Over the weekend, 893,000 HYPE tokens ($54.5 million) were transferred to Hyperliquid, now valued at $65 million. In the past month, 1.115 million HYPE tokens ($63.5 million) were unlocked, and 557,000 HYPE tokens ($33.35 million) were sold on May 21, when HYPE reached a record high. Traders are now closely monitoring HYPE as it joins the list of notable altcoins and top-performing altcoins.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.