On May 13, according to BlockBeats On-chain Detection, the HYPE token has seen a decline over the past week, dropping 10.7% from its peak as BTC remained relatively stable. The token's value has now fallen to around $40. The largest short position holder on Hyperliquid, known as 'Loracle,' has benefited from this downturn, with unrealized gains reaching $2.07 million and daily profits amounting to $1.28 million.
'Loracle' has shorted 1.2432 million HYPE tokens using 5x leverage, valued at approximately $49.92 million, with an average price of $41.8. This position was fully established after increasing their holdings on May 10.
Meanwhile, the largest long position holder, previously speculated to be a 'HYPE listing insider' whale, continues to hold a long position in HYPE. This entity has leveraged 5x to go long on 1.38 million tokens, valued at approximately $55.4 million, with an average price of $38.67 and a liquidation price of $36.29.
Addresses involved in these transactions are 0x8def9f50456c6c4e37fa5d3d57f108ed23992dae and 0x082e843a431aef031264dc232693dd710aedca88.
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