HYPE Trader Faces $33.75 Million Net Loss Despite Spot Gains

According to Odaily, HyperInsight reports that former HYPE major short seller "Trader Loracle" has not sold any of the 893,000 HYPE tokens unlocked last week. As HYPE's price increased, the value of these tokens rose by 25%, currently worth approximately $63.5 million, with a floating profit of about $12.7 million. However, losses from contracts have significantly exceeded spot gains. Today, the trader completed the liquidation of over $102 million in HYPE short positions at high levels, resulting in a loss of $46.459 million. Even after accounting for the floating profit from spot holdings, the address still faces a net loss of approximately $33.75 million. Over the past month, the whale has unlocked a total of 2.008 million HYPE tokens in three instances. On May 21, when HYPE reached a new high, the trader sold 557,000 HYPE tokens, valued at around $33.35 million.