HYPE Whale Short Position Hits $6.43M with 509% Returns as Hedging Longs Boost Assets

COINOTAG News, citing Coinbob Popular Address Monitor on December 24, reports that a whale linked to address 0xd16 has realized meaningful gains from a persistent short position. The reported exposure sits at about $6.43 million with an average entry price of $35.70, and unrealized gains of roughly $3.28 million, equating to a return near 509%. The cited liquidation price is $32.78, indicating disciplined risk management amid market volatility.

During the holding window, the trader reportedly deployed roughly 10% of capital to establish short-term long positions, aiming to capture rebound opportunities, implement risk hedging, and boost yields. The monitor notes that this approach has effectively doubled the account’s total assets, underscoring a measured, hedged exposure strategy in a volatile crypto backdrop.