PANews reported on August 26 that according to monitoring by on-chain analyst Ember, a certain address bought 900,000 HYPE (US$40.26 million) spot at a price of approximately US$45.5 10 days ago. These HYPE were all sold at a price of approximately US$43.5 between last night and this morning in exchange for 39.26 million U, resulting in a loss of approximately US$1.8 million.

He used the funds from selling HYPE to buy more ETH before last night's drop, resulting in a current $10 million unrealized loss: he bought 51,691 ETH with 15x leverage, worth $229 million. The opening price was $4,630 and the liquidation price was $4,076.