The largest long whale in the HYPE lifted an average price of $38 for five months, with a $51 million position that may soon be liquidated.

BlockBeats News, March 12, according to Hyperinsight Monitoring, as HYPE's price continues to rise, this morning it stood above $37. The largest long position in HYPE, the "suspected HYPE listing insider information" whale, is once again approaching the unwinding threshold. Its current holding size has reached $51.5 million, with an average price of $38.67. The unrealized loss has narrowed to $2 million (-19%), with a liquidation price of $27.55. The current funding rate settlement has recorded a loss of $1.65 million.

Approaching breakeven, the address released about $4.5 million of the deposited margin this morning. This operation raised its liquidation price passively from a lower level to $27.5. For long positions, withdrawing margin implies actively raising the liquidation threshold, or being certain that HYPE "will not fall below $28."

This whale has been "holding the position" for nearly five months: on October 23 last year, on the eve of HYPE's listing on Robinhood, the address significantly increased its long position. When HYPE rose to nearly $50 in early February, it could have exited with a substantial profit, but chose to continue holding.

Subsequently, as the price fell below the cost line, it continued to roll over and increase its position to $29. The unrealized loss once approached $26 million, with a lowest liquidation price of $20.1. In mid to late January this year, when its position was closest to the liquidation line, it was only 0.37% away.