Whale closes HYPE long position with $3.22M loss, then shorts SP500 with 50x leverage and $111M+ position

Odaily Odaily reports that according to Onchain Lens monitoring, the whale at address "0x97f" has closed its previously held HYPE long position, incurring a loss of approximately $3.22 million. Subsequently, the address sold 165,391 HYPE on the spot market, realizing a profit of approximately $1.978 million.

After adjusting its HYPE position, the whale further bet on a market downturn, opening a short position of 15,000 SP500 contracts with 50x leverage, representing a notional value of approximately $111.38 million and a liquidation price of $8,295.66. The movements of this large, high-leverage short position from this address are now attracting market attention.