HYPE's largest bull withdrew $8.4 million in margin, actively moved the liquidation price up to $41.3

BlockBeats news, on May 21, according to Hyperinsight monitoring, in the past 24 hours, the largest HYPE long whale, suspected of “HYPE insider listing trading,” made substantial withdrawals of released margin as unrealized profits continued to grow. As of press time, the total withdrawn reached 8.4 million US dollars.

This withdrawal raised the liquidation price from 37.9 US dollars to 41.3 US dollars, possibly indicating a bet that the price will not fall back to that level in the short term. Currently, this address holds a 5x leveraged long position with 1.38 million HYPE tokens, with a position worth about 78.3 million US dollars, an average entry price of 38.67 US dollars, and an unrealized profit of 24.8 million US dollars (+158%).

Since HYPE rebounded from a bottom of 20.4 US dollars in January, every significant price rally has been accompanied by large withdrawals of unrealized margin profits, with a cumulative realized amount of over 20 million US dollars, and the liquidation price has been adjusted upwards from the low point of 20.1 US dollars.

This position was established on October 23 last year (just before HYPE was launched on Robinhood), in advance with aggressive long positions. In the ten days that followed, HYPE rose from 38 US dollars to 50 US dollars, but this address did not take profit or exit.

Address: 0x082e843a431aef031264dc232693dd710aedca88