「Suspected HYPE Listing Insider Whale」 Faces $10 Million Unrealized Loss, HYPE's Largest Bear Abraxas Capital Successively Liquidates

BlockBeats News, November 24th, according to HyperInsight monitoring, possibly affected by the upcoming large unlock, HYPE has been steadily declining recently. The "Suspected HYPE Listing Insider" whale (0x082)’s HYPE long position has been in a loss since the 19th, with a current floating loss of approximately $10.16 million (-126%), holding a position size of about $40.7 million with an average price of $39. Now the largest long position on HYPE on Hyperliquid.

This address opened a $40 million HYPE long position (5x) 5 hours before Robinhood announced the launch of HYPE spot trading on October 23, once causing community suspicion of insider trading. The previously opened STRK and PURR long positions on November 9 were closed on the 22nd, now holding only the HYPE long position.

According to monitoring, the largest short position on HYPE on Hyperliquid, "Abraxas Capital," has been continuously selling HYPE spot and closing HYPE contracts. In nearly 2 hours, it has sold a total of 20,000 tokens, equivalent to about $620,000. The buy-in price for its spot position liquidation was $43, with a remaining $3.8 million spot position.