HYPE Token Experiences 4% Decline Amid Regulatory Scrutiny

Following reports that the CME and NYSE are urging U.S. regulators to intensify scrutiny on Hyperliquid, the HYPE token saw a 4% decline, dropping from $45 to $43. Blockchain sleuth EmberCN posted on X. In response to the news, a Polymarket user with the username 'asssdfc' transferred 8.826 million USDC into Hyperliquid 20 minutes ago to short $HYPE. The user has opened a short position valued at $7 million, with an entry price of $43.1, and continues to increase the short position on HYPE.