Whale closes HYPE long position with $3.22M loss, then opens $111M+ short on SP500 with 50x leverage

Odaily reported: According to monitoring by Onchain Lens, the whale at address "0x97f" has closed its previously held long position in HYPE, incurring a loss of approximately $3.22 million. Subsequently, the address sold 165,391 HYPE on the spot market, profiting around $1.978 million.

After adjusting its HYPE position, the whale further bet on a market downturn, opening 15,000 short positions on SP500 with 50x leverage, a notional value of approximately $111.38 million, and a liquidation price of $8,295.66. Currently, the market is closely watching the movements of this large, high-leverage short position.