HYPE Whale Loracle to Unlock Significant Stake

On May 28, Hyperinsight reported that a major HYPE token holder, known as 'Trader Loracle,' is set to unlock 893,000 HYPE tokens in the next seven hours. According to BlockBeats On-chain Detection, this represents the largest single unlock by this whale, valued at approximately $50.8 million. Loracle's total staked amount is around 2.009 million HYPE tokens. In the past month, Loracle has unlocked a total of 1.115 million HYPE tokens over two instances. On May 21, coinciding with HYPE reaching a new high, Loracle sold 557,000 HYPE tokens. Market expectations suggest that Loracle may sell the newly unlocked tokens, potentially increasing selling pressure on HYPE. If the spot sale occurs without adjusting short positions, Loracle's $104 million HYPE short exposure could become vulnerable, risking significant losses. Currently, Loracle holds major positions in HYPE shorts, with a liquidation price of $90, and BTC shorts, with a liquidation price of $208,000. Loracle, whose real name is Laurent Zeimes, is the founder of Hypurrfun and an early contributor to the Hyperliquid ecosystem. The contract address is 0x8def9f50456c6c4e37fa5d3d57f108ed23992dae, and the on-chain staking address is 0xE44bd27c9F10fa2F89fdb3ab4B4F0E460da29EA8.