Two Whales Plan to Short $42.2 Million HYPE

BlockBeats News, August 25th. According to TradingBeats (formerly Hyperinsight), two HYPE whales today morning successively placed 509 sell orders above, not limited to profit-taking. They plan to sell about 449,500 HYPE tokens, with a nominal value of approximately $42.226 million, at a weighted average price of $93.94. The creation time of the two sets of orders was less than two minutes apart, but there is currently no data showing any connection between the two addresses.

One of the whales, starting with address 0x4e23 and known as the "Stock Market Winner," held 152,800 HYPE long positions yesterday, which have now been completely liquidated to take profit. This morning, within one minute, they placed 24 sell orders, planning to short 327,300 HYPE tokens in the price range of $90.385 to $104.68, with a nominal value of around $31.5 million and a weighted average price of $96.25.

Another whale with the address starting with 0xf02d has already shorted 391,100 HYPE tokens, with a position value of about $31.29 million. They entered the short position at an average price of $75.92, currently facing an unrealized loss of about $1.598 million.

Today, this address has added 485 short orders in the price range of $80.409 to $99, planning to further short 122,200 HYPE tokens, with a nominal value of approximately $10.726 million. The closest order to the current price is only about 0.5% away, and some orders have already started to execute.