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Hedging Whale Executes Time-based Order to Sell 63,000 HYPE Spot, Holding $25 Million Short Position in Contract Unwound

2 hours ago

April 16 — Per HyperInsight monitoring (via Telegram: https://t.me/HyperInsight), the hedge whale “HYPE Maximum Short” on Hyperliquid has begun liquidating its spot HYPE holdings today. The address has placed 9 closely timed sell orders for 63,000 HYPE (valued at ~$2.86M) via a Time-Weighted Average Price (TWAP) strategy. Over half of these orders have already executed. The whale still holds a 5x-leveraged HYPE short position worth ~$25M, with an average entry price of $38.93. It’s currently sitting on a floating loss of $3.54M (-70%), making it the largest HYPE short holder on the platform. Typically, traders hedging spot positions with shorts will close some short positions to lock profits when selling spot. However, this whale has yet to adjust its HYPE short position — suggesting it may be betting on a short-term HYPE price reversal to offset its unrealized short losses.
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