According to HyperInsight monitoring, as HYPE surged above $70, the largest HYPE short position holder, trader Loracle, has been steadily reducing their HYPE short position over the past several hours. As of this report, their 5x leveraged short position has decreased from $102 million to $60.94 million, with current unrealized losses still amounting to $22.58 million (-74%). 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 $64 million; no sales have been made yet. Previously, over the past month, this whale has unlocked HYPE twice, totaling 1.115 million HYPE (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, valued at approximately $33.35 million. 📌 Contract Address: 0x8def9f50456c6c4e37fa5d3d57f108ed23992dae 📌 On-chain Staking Address: 0xE44bd27c9F10fa2F89fdb3ab4B4F0E460da29EA8
HYPE's top short seller, Loracle, transfers $64M in spot assets to Hyperliquid amid price surge
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Summary
HYPE’s top short seller, Loracle, transferred 893,000 HYPE tokens ($64M) to Hyperliquid as the token’s price rose above $70. The trader reduced a 5x leveraged short position from $102M to $60.94M, incurring losses of $22.58M (-74%). Over the weekend, Loracle unlocked 1.115M HYPE ($63.51M) and sold 557,000 HYPE ($33.35M) on May 21, the day HYPE reached its peak. The risk-to-reward ratio for short positions has significantly worsened amid the rally.
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