According to Hyperinsight monitoring, trader Loracle’s short position in HYPE has incurred an unrealized loss of $31 million (-139%), with the account experiencing a net drawdown of over $6 million in the past 24 hours. The address is currently shorting 1.8 million HYPE at 5x leverage, with a position size of $112 million, an average entry price of $45.37, and a liquidation price of $89.40. Last night and early this morning, this whale attempted to short SNDK but was liquidated three times, cumulatively losing $530,000. Combined with HYPE rebounding above $62, the account’s margin has been fully depleted. Additionally, its staking address (0xe44) will unlock 895,000 HYPE on May 28, valued at approximately $55.5 million, potentially introducing $55 million in selling pressure on HYPE. As of this writing, HYPE’s spot market has recorded a net buy volume of approximately $1.57 million over the next 24 hours.
Trader Loracle Suffers $31M Loss on HYPE Short Position
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Summary
Trader Loracle is facing a $31 million unrealized loss (-139%) on a short position in HYPE, using 5x leverage across 1.8 million tokens. The position is currently valued at $112 million, with liquidation imminent near $89.4 million. Over the past 24 hours, the account experienced a $6 million drawdown. Loracle also incurred $530,000 in liquidations from a short position in SNDK as HYPE rose above $62. A staking address (0xe44) will unlock 895,000 HYPE (~$5.55 million) on May 28, adding potential downward pressure on the price. Trading risks remain elevated amid extreme price volatility.
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