HYPE's Biggest Short Seller Loracle Holds Through $31 Million Loss, Withdraws $6 Million in Funds in the Past 24 Hours

BlockBeats News, May 27th, according to Hyperinsight Monitoring, "Trader Loracle's" HYPE short position is currently at a floating loss of $31 million (-139%), with a fund withdrawal of over $6 million in the past 24 hours. The address is currently shorting 1.8 million HYPE with 5x leverage, holding a position size of $112 million, with an entry price of $45.37 and a liquidation price at $89.4.

It is reported that the whale attempted to short SNDK (Sundar) twice last night and this morning, experiencing 3 liquidations with a total liquidation size of $530,000. Coupled with HYPE rising above $62, the whale's account has been completely liquidated.

Furthermore, monitoring shows that on May 28th, Loracle's staking address (0xe44) will unlock approximately 895,000 HYPE tokens (worth around $55.5 million). Considering the hedge against the significant short position loss by this address, this unlocking may bring about potential selling pressure of around $55 million for HYPE in the next 48 hours. As for the buying pressure on the spot market on Hyperliquid, as of the time of writing, the net buy orders for the next 24 hours of HYPE spot trading amount to approximately $1.57 million.

Address: 0x8def9f50456c6c4e37fa5d3d57f108ed23992dae

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