The HYPE FUD has led a whale to attempt a buy order below $40, creating a total of a $20 million bid.

BlockBeats News, July 17th, according to Hyperinsight monitoring, as of the time of writing, HYPE hit a daily low of $58.781, retracing 10% from the intraday high, and is now trading at $59.2, down 11.2% from the previous day.

A whale (0x4e2) placed 60 limit orders for HYPE early this morning, with a price range of $20 to $40. The whale plans to buy 667,000 HYPE tokens, with a nominal value of approximately $20 million. The volume-weighted average price is $30, and the highest buy price is still 32.5% lower than the current price.

The whale's account holds a whopping $40.2 million, currently only holding 4,218 HYPE short positions, worth about $250,000. If the buy orders are executed, the whale will close the existing short positions and then hold approximately 662,400 HYPE long positions.