The HYPE/BTC exchange rate has hit a new all-time high, with a whale making a net profit of $3.1 million by longing this rate

BlockBeats News, May 20th, according to Hyperinsight Monitoring, in the past week, BTC continued to fall, while HYPE surged against the trend. The HYPE/BTC exchange rate hit a new all-time high of 0.03628.

A large whale on Hyperliquid has been synchronously holding a significant amount of long positions in HYPE and short positions in BTC for over a month, with the position structure geared towards longing the HYPE/BTC exchange rate, with a total position size of approximately $43.28 million. The current position is performing as follows:

20x BTC Short: Unrealized Loss of $1.24 million (-127%), Size of $19.33 million;

10x HYPE Long: Unrealized Gain of $4.4 million (+183%), Size of $23.95 million.

After hedging on both sides, the net unrealized gain reaches $3.16 million. The continued strength of HYPE compared to BTC has allowed this position to realize profits.

Address: 0xa9b95f2a2e7ef219021efc5c04c32761b8553bbd

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