Odaily Planet Daily reports, according to Lookonchain monitoring, a trader entered a 5x leveraged long position of 1.38 million HYPE tokens at an entry price of $38.68, worth $58.4 million, becoming the largest on-chain HYPE long position. The trader has now regained profitability, with unrealized profits exceeding $5 million despite paying $2 million in funding fees.
The largest HYPE long position on chain now holds over $5 million in profit.
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Summary
A trader opened a 5x leveraged long position of 1.38 million HYPE tokens four months ago at $38.68, totaling $58.4 million. The trading strategy included careful position sizing to manage risk. Despite $2 million in funding fees, the position is now profitable with over $5 million in unrealized gains.
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