PANews reported on June 1 that, according to HyperInsight, as HYPE surged above $70, HYPE's largest short seller, trader Loracle, continued to reduce his short position in HYPE over the past few hours. As of press time, his 5x leveraged short position had decreased from $102 million to $60.94 million, with a current loss of $22.58 million (-74%).
It is reported that Loracle transferred 893,000 HYPE tokens from its on-chain spot holdings to Hyperliquid over the weekend. With the price surge, the value of this spot holding increased from $54.5 million to $64 million. These tokens have not yet been sold.
In the previous month, the whale had unlocked a total of 1.115 million HYPE tokens (worth approximately $63.51 million) twice. According to clearly traceable on-chain records, it sold 557,000 HYPE tokens on May 21 (the day HYPE first broke a new high), worth approximately $33.35 million.
