Trader Loracle's Spot Trading P&L Hit Hard by Short Position, Net Loss after Hedging Still Stands at $33.75 million

BlockBeats News, June 2nd, according to Hyperinsight Monitoring, the leading short seller of former HYPE, trader Loracle, has not sold any of the 893,000 HYPE received in spot unlock since last week. With the rise in HYPE price, the spot position has appreciated by 25% to a current value of approximately $63.5 million, with an unrealized gain of about $12.7 million.

The losses on the contract side far exceed the gains on the spot. Today, the whale completed a total of over $102 million HYPE short liquidation at a high price level, resulting in a staggering loss of $46.459 million. Even after factoring in the unrealized gains on the spot side, the address still incurred a net loss of around $33.75 million overall.

Over the past month, the whale has unlocked a total of 3 times, amounting to 2.008 million HYPE. In a transparent on-chain record, on May 21st (the day HYPE hit a new all-time high), the whale sold 557,000 HYPE, worth about $33.35 million.

Address: 0x8def9f50456c6c4e37fa5d3d57f108ed23992dae

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