Trader Loracle's unrealized spot profit cannot offset previous massive short losses; net loss after hedging still reaches $33.75 million

According to monitoring by HyperInsight, former HYPE top short seller "Trader Loracle" has not yet sold since receiving 893,000 HYPE spot tokens unlocked last week. With the rise in HYPE price, the spot position has appreciated by 25%, currently valued at approximately $63.5 million, with an unrealized profit of about $12.7 million.

The losses on the contract side far exceeded the spot gains. Today, it completely closed out over $102 million in HYPE short positions at a high price, ultimately recording a loss of up to $46.459 million. Even accounting for the hedging from unrealized spot profits, the address still has a net loss of approximately $33.75 million.

In the past month, this whale has unlocked a total of 3 times, receiving 2.008 million HYPE. In clearly traceable on-chain records, it sold 557,000 HYPE on May 21 (the day HYPE first broke its all-time high), valued at approximately $33.35 million.