「Whale Tracking」 HYPE Hedge Whale Switches to One-Sided Bullish, Spot Contract Simultaneously Buys $14.2 million

BlockBeats News, August 27th, according to TradingBeats (formerly Hyperinsight) monitoring, the arbitrage whale that had been continuously reducing its HYPE "perpetual futures hedging" position in the 0xf17 address range has now switched to a long position in the same direction. The net long exposure on the HYPE side has increased to approximately 222,000 tokens.

In the early morning, this whale first concentrated on buying approximately 39,700 HYPE spot tokens within about 7 minutes, with a transaction value of around $3.251 million and an average price of $81.98. It then continued to open a long position of 136,000 HYPE perpetual futures, with a transaction value of approximately $11.026 million and an entry price of $81.05. The total purchase amounted to around $14.277 million.

As of the time of writing, the whale holds:

87,000 HYPE spot tokens, worth approximately $7.008 million;

A 10x leveraged long position of 136,000 HYPE perpetual futures, with a position value of about $11.087 million, an entry price of $81.05, an unrealized profit of about $61,000, and a liquidation price of $38.64.

The total value of its HYPE spot and perpetual futures positions is approximately $18.095 million. Based on the current price, the newly added spot and perpetual long positions from yesterday have a combined unrealized profit of around $42,000.

Since August 18th, the whale has repeatedly conducted swing long positions on HYPE. The realized profit from closed trades so far amounts to about $320,000. It is currently placing 100 spot sell orders in the range of $83.50 to $110 per HYPE, planning to sell 50,000 HYPE tokens, with a notional value of around $4.837 million, a weighted average order price of $96.75, covering approximately 58.1% of the spot holdings.

HYPE is currently trading at $81.50, down approximately 0.9% in the last 24 hours; the open interest of perpetual contracts is around $2.086 billion, with a trading volume of about $752 million, a spot trading volume of about $118 million, and the current hourly funding rate is about +0.00125%.

Previous News: HYPE Arbitrage Opportunity Narrows, Funding Rate Falls Back as Whale Withdraws $11 Million Hedging Position