According to on-chain analytics platform Lookonchain (@lookonchain), a trader who previously shorted HYPE ahead of its price surge is currently closing their short position while selling HYPE. This address has unstaked 443,180 HYPE, worth approximately $27 million, of which 231,899 HYPE have been sold for about $14.15 million. The remaining 211,281 HYPE, valued at around $13 million, are still being sold. Additionally, the trader still holds a short position of 141,500 HYPE, worth approximately $8.67 million, with an unrealized loss exceeding $2.5 million.
Trader Unwinds HYPE Short Position, Unrealized Losses Exceed $2.5M
TechFlowShare
Summary
A trader unwinding a HYPE short position is actively adjusting their position size. According to TechFlow, the trader is closing the position and selling HYPE. The address has unstaked 443,180 HYPE, worth approximately $27 million, with 231,899 HYPE already sold for $14.15 million. The remaining 211,281 HYPE, valued at $13 million, is still being sold. The trader still holds a short position of 141,500 HYPE, valued at $8.67 million, with unrealized losses exceeding $2.5 million.
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