The entity liquidated a short position above $60 with a loss exceeding $6.99 million in HYPE.

BlockBeats News, May 22nd, according to OnchainLens monitoring, two addresses affiliated with the same entity closed out their HYPE short positions at an average price of approximately $60.2. The entity suffered a loss of over $6.99 million and subsequently withdrew the remaining USDC, depositing it into Coinbase.