「HYPE Bull Whale」 Executes $9 Million Withdrawal, Secured by $30 Million Unrealized Gain

BlockBeats News, June 1st, according to Hyperinsight monitoring, in the past 2 days, the HYPE's largest long position whale, suspected of "HYPE listing insider trading," has been continuously increasing its unrealized gain and aggressively withdrawing the realized margin. As of the time of writing, a total of $9 million has been withdrawn.

This round of withdrawals has pushed the liquidation price up to $52.8, indicating that the expected price is unlikely to fall below this level in the short term. The address is currently long 1.38 million HYPE with 5x leverage, with a position value of approximately $101 million, an average entry price of $38.67, and an unrealized gain of $47.9 million (+236%).

Since HYPE rebounded from $20.4 in January, after each significant price surge, there have been substantial withdrawals of unrealized gains from the margin, totaling over $30 million to date. The liquidation price has also been raised from the low of $20.1.

This position was originally established on October 23 last year (just before HYPE was listed on Robinhood), and has been held without closing to date. Instead, unrealized gains from continuous withdrawals have been used as a form of profit-taking.

Address: 0x082e843a431aef031264dc232693dd710aedca88