Suspected HYPE whale's unrealized loss expands to $17.2 million, liquidation price lowered to $23.9

On February 24, Coinbob's popular address monitoring showed that as the price of HYPE continued to fall, the largest long position on-chain, suspected to be an “insider whale” related to HYPE’s listing, saw its unrealized loss expand to $17.2 million. From last night to this morning, this whale deposited a total of $2.4 million in margin in three transactions, lowering the liquidation price from $26.15 to $23.9. This address holds a 5x leveraged long position in HYPE, with a position size of approximately $36.18 million and an average entry price of $38.67. The current loss rate is about 237%, with only about 2.2% left before reaching the liquidation price. Since building the position before HYPE was listed on a certain exchange on October 23 last year, this whale has been in a long-term unrealized loss, without adjusting or reducing the position. The peak unrealized loss once approached $26 million, with the lowest liquidation price around $20.1.