Trader Loracle shorts 1.24 million HYPE, holding the largest short position on HYPE on Hyperliquid

BlockBeats News, May 12, according to Hyperinsight monitoring, Hyperliquid's renowned trader "Loracle" has fully realized the previous substantial gains from the long positions in ZEC and TON, shifting the main position to short positions in HYPE, BTC, and SNDK (SanDisk), with the weekly profit expanding to $12.7 million.

Among them, the short position in HYPE is currently the largest single position for this address, currently shorting 1,243,200 HYPE with 5x leverage, worth approximately $51.2 million, making it the largest short position in HYPE on the Hyperliquid platform. During the HYPE price decline last night and this morning, this short position has turned losses into gains, with a floating profit of approximately $790,000 (7.8%).

It is reported that this address closed out a large short position in HYPE over the past two days, accumulating approximately $12 million, reducing the average entry price to $41.81; last night, simultaneously shorted BTC with 20x leverage, with a scale of $11.1 million.