Trader Loracle shorts 1.24 million HYPE, making it the largest HYPE short position on Hyperliquid

BlockBeats News, May 12, according to Hyperinsight monitoring, the well-known Hyperliquid trader "Loracle" has fully taken profit on large floating gains from ZEC and TON long positions, shifting main holdings to three large short positions in HYPE, BTC, and SNDK (SanDisk), with weekly profits further expanding to 12.7 million USD.

Among these, the HYPE short is currently the largest single position for this address, with a 5x leveraged short of 1.2432 million HYPE, worth about 51.2 million USD, making it the largest HYPE short on the Hyperliquid platform. During HYPE's decline last night and this morning, this short position turned profitable, with a floating profit of about 790,000 USD (7.8%).

It is reported that two days ago this address significantly averaged down the HYPE short, accumulating an additional 12 million USD and lowering the average entry price to 41.81 USD; last night simultaneously opened a 20x leveraged short on BTC, with a size of 11.1 million USD.