Trader "Loracle" Shorting HYPE at All-Time High, Short Position Size Increased to Nearly $20 Million

BlockBeats News, April 22, according to Hyperinsight monitoring, HYPE has regained the $40 price level. The "Hyperliquid early contributor Loracle" increased their short position above this price point, liquidating their HYPE holdings at a rate of approximately $300,000 per hour. They have now become the second largest bear on HYPE on Hyperliquid.

The current 5x leveraged HYPE short position has increased to $19.7 million, with an average price decreasing from $41 to $40.69. The current unrealized profit is $130,000, with the position opened on April 20.

This address is one of the early contributors to the Hyperliquid ecosystem and is the founder of Hypurrfun. They previously took a long position during the primary uptrend of HYPE from $20, becoming the second largest bull on-chain.