PANews reported on March 31 that according to OnchainLens monitoring, a whale is hedging HYPE tokens. In the past 14 days, the whale has deposited 11.23 million USDC into HyperLiquid and:

• Opened a short position on HYPE tokens (3x leverage), with a current floating profit of $2.4 million.
• 387,417 HYPEs were purchased at a unit price of $13.12, spending a total of $5.08 million, and the current floating loss is $270,000.