A whale spent $50.8 million to increase their HYPE holdings to hedge their short position.

BlockBeats News, March 31st, according to OnchainLens monitoring, a whale is currently conducting a short sale spot hedge on HYPE. In the past 14 days, this whale has deposited 112.3 million USDC into HyperLiquid to short HYPE with 3x leverage, realizing a profit of 2.4 million dollars. Additionally, they purchased 387,417 HYPE at an average price of 13.12 dollars, spending 50.8 million dollars, and incurring an unrealized loss of 270,000 dollars.