Whale with $40.2M in Funds Places $20M Limit Buy Order for HYPE

Odaily Odaily reports that according to Hyperinsight monitoring, as of press time, HYPE fell to a low of $58.78, a 10% retracement from its daily high. It is currently trading at $59.2, down 11.2% from the previous day's price. Early this morning, a whale created 60 limit buy orders for HYPE, with a price range of $20 to $40, planning to purchase 666,700 HYPE tokens. The notional value of the orders is approximately $20 million, with a weighted average price of $30. The highest buy price is still 32.5% lower than the current price. The whale's account holds $40.2 million in funds and currently only has a short position of 4,218 HYPE, worth about $250,000. If the buy orders are filled, the whale will close its existing short position and then hold a long position of approximately 662,400 HYPE.