Huo Xing Finance reports that, as of June 1, according to Hyperinsight monitoring, following HYPE’s surge above $70, the largest HYPE short seller, trader Loracle, has been steadily reducing their HYPE short position over the past several hours. As of publication, their 5x leveraged short position has decreased from $102 million to $60.94 million, with current losses still amounting to $22.58 million (-74%). It is understood 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 $64 million, and these tokens have not yet been sold. Previously, over the past month, this whale had already unlocked two tranches totaling 1.115 million HYPE tokens (valued at approximately $63.51 million). On-chain records clearly show that on May 21—the day HYPE first broke its all-time high—they sold 557,000 HYPE tokens, worth approximately $33.35 million. Contract address: 0x8def9f50456c6c4e37fa5d3d57f108ed23992dae On-chain staking address: 0xE44bd27c9F10fa2F89fdb3ab4B4F0E460da29EA8
HYPE's largest short seller, Loracle, transfers $64 million in spot assets to Hyperliquid and reduces its short positions.
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Summary
On June 1, HYPE’s largest short seller, 'Trader Loracle,' transferred 893,000 HYPE tokens ($64 million) to Hyperliquid. Short positions declined from $102 million to $60.94 million, resulting in a $22.58 million loss (-74%). Over the past month, the whale unlocked 1.115 million HYPE tokens ($63.51 million) and sold 557,000 HYPE tokens ($33.35 million) on May 21, when HYPE reached its peak. This move signals a shift in the risk-to-reward ratio and aligns with value investing strategies in crypto.
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