A certain skeptical whale shorted 1.87 million $HYPE, liquidating their position an hour and a half ago, with a reported loss of $23.5 million (-78%)!
This skeptical whale started shorting HYPE with 5x leverage on May 8th, opening the position at a price of $20.4. As the price continued to rise, they kept adding to the position, ultimately pouring over $30 million in margin into this trade.
With today's price continuing to rise, it is now very close to their liquidation price.
This whale, who hit a wall, may have chosen to cut losses either due to lack of funds to add to the position or simply not wanting to hold the position any longer.
They chose to cut losses and exit.
After closing the position, the remaining value is $6.9 million, with a loss of $23.5 million (-78%)!