According to on-chain analyst Yu Jin's monitoring, a whale using $28.5 million in margin to short 1.875 million HYPE ($57.14 million) is currently facing an unrealized loss of $18.8 million.

To avoid liquidation of the position, an additional $2.04 million in USDC margin was added 2 hours ago. The whale shorted 1.875 million HYPE with 5x leverage on May 8, at an opening price of $20.4. Since then, HYPE has continued to rise, and to maintain the position, additional margin has been added twice; the current liquidation price of the position is $32.6.