HYPE drops to around $40, top short seller Loracle earns $1.2 million daily

BlockBeats news, on May 13, according to Coinbob Hot Address Monitoring, over the past week, while BTC remained relatively stable, HYPE has continuously pulled back from its peak, dropping 10.7% week-over-week and falling to around the $40 mark today. The largest short position holder in HYPE on Hyperliquid, "Loracle", has continued to benefit from this decline, with unrealized profits expanding to $2.07 million and daily profit reaching $1.28 million.

Currently, Loracle is shorting 1.2432 million HYPE tokens at 5x leverage, with a value of approximately $49.92 million, at an average price of $41.8. After increasing the position on May 10, the opening was completed.

Additionally, the largest long position holder, who the market once suspected to be a whale involved in the "HYPE listing insider" issue, still holds HYPE longs. Currently, they are long 1.38 million tokens at 5x leverage, valued at approximately $55.4 million, with an average price of $38.67 and a liquidation price of $36.29.

Address: 0x8def9f50456c6c4e37fa5d3d57f108ed23992dae

Address: 0x082e843a431aef031264dc232693dd710aedca88