「Suspected Listing Hype Insider Trading」 Whale's Multi-Long Liquidation Losses Expand to $17.2 Million, Emergency Liquidation Price Downward Adjusted to $24

BlockBeats News, February 24th, according to Coinbob Popular Address Monitoring, as the HYPE price continues to decline, the on-chain whale with the largest long position in the coin, suspected of "HYPE listing insider trading," has seen its unrealized loss expand to $17.2 million. Last night and this morning, the whale urgently made three separate deposits totaling $2.4 million as additional margin to lower the liquidation price.

The address currently holds a 5x leveraged HYPE long position with a position size of approximately $36.18 million, an entry price of $38.67, and a current loss of about 237%. The liquidation price has been adjusted from the previous $26.15 to $23.9.

Currently, the position is only about 2.2% away from the liquidation price. Despite a previous sharp rise in HYPE, which nearly brought this position back to breakeven, the whale has never chosen to close the position.

This address went long on HYPE before its listing on Robinhood on October 23 last year, entered at a price that quickly fell below the entry point, and has been in a long-term unrealized loss position since then. During this period, there have been no position adjustments or reductions, and the whale has continued to "hodl" up to now. Its previous peak unrealized loss was close to $26 million, and the liquidation price was around $20.1, with the liquidation being only 0.37% away in mid to late January.