ME News reports that on August 25 (UTC+8), according to TradingBeats (formerly Hyperinsight), two HYPE whales placed a total of 509 non-"reduce-only" sell orders earlier today, representing an outstanding sell volume of approximately 449,500 HYPE tokens, with a notional value of about $42.226 million and a weighted average price of $93.94. The two sets of orders were created less than two minutes apart, but no data currently links the two addresses. The whale associated with the address starting with 0x4e23, previously tracked as a "major U.S. stock winner," held 152,800 HYPE long positions yesterday and has since fully closed out those positions for profit. Earlier today, this address placed 24 new sell orders within one minute, aiming to short-sell 327,300 HYPE tokens at prices between $90.385 and $104.68, with a notional value of approximately $31.5 million and a weighted average price of $96.25. The whale associated with the address starting with 0xf02d currently holds a short position of 391,100 HYPE tokens, valued at approximately $31.29 million, with an average entry price of $75.92 and an unrealized loss of about $1.598 million. Today, this address placed 485 additional short orders between $80.409 and $99, planning to further short 122,200 HYPE tokens with a notional value of approximately $10.726 million. The lowest price tier is only about 0.5% below the current price, and some of these orders have already begun to fill. (Source: BlockBeats)
Two HYPE whales plan to short $42.2 million worth of tokens.
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Summary
Two HYPE whales are targeting a $42.2M short position, with 509 sell orders covering 449,500 HYPE tokens. Whale 0x4e23 liquidated 152,800 long positions and opened 24 short orders. Whale 0xf02d has shorted 391,100 tokens and added 485 more today. Traders are monitoring key support and resistance levels, as the risk-to-reward ratio for this move appears heavily skewed toward downside pressure.
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