According to on-chain analytics platform Lookonchain (@lookonchain), a trader who shorted HYPE prior to its price increase is now closing their short position and selling HYPE. This address has unstaked 443,200 HYPE, worth approximately $27 million, of which 231,900 HYPE (worth about $14.2 million) have already been sold. The remaining 211,300 HYPE, valued at approximately $13 million, are still being sold. Additionally, this address still holds a short position of 141,500 HYPE, worth about $8.67 million, with an unrealized loss exceeding $2.5 million.
Trader Liquidates HYPE Position, Unrealized Losses Exceed $2.5M
AiCoinShare
Summary
A trader is liquidating a short position in HYPE, with news of the token’s launch underscoring the ongoing sell-off. The address has unstaked 443,200 HYPE, valued at approximately $27 million, and sold 231,900 HYPE for $14.2 million. The remaining 211,300 HYPE, worth $13 million, are still being sold. The address also holds 141,500 HYPE in short positions, valued at $8.67 million, with unrealized losses exceeding $2.5 million. New token listings continue to attract attention as this HYPE position is unwound.
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.