According to monitoring data from @mlmabc, an anonymous whale is implementing an extremely risky short-selling strategy for the HYPE token. This wallet address has been identified as linked to the domain "okwan" (on SOL/ETH) and is associated with the WOULD token from the Solana ecosystem.
Detailed developments:
High-risk strategy: Although part of the position was liquidated 8 hours ago, this whale continues to average down (DCA) by purchasing an additional 700,000 short contracts (worth 22.2 million USD).
Current position: The total value of short orders has reached 67.1 million USD (2.1 million contracts), while the collateral is only a mere 6.9 million USD.
Danger zone: The increase in position has pushed the liquidation price up to the range of $33.37 - $33.57. This level is only about 5% higher than the current market price, putting the account in a red alert status if the HYPE price experiences a slight increase.
As of the update, this wallet continues to increase short orders.
