A certain whale closed its HYPE long position, resulting in a $3.22 million loss, and subsequently shorted the S&P 500 with 50x leverage.

BlockBeats News, June 9th, according to Onchain Lens monitoring, the address 0x97f closed its long HYPE position, losing $3.22 million, and then sold 165,391 HYPE at the spot price, realizing a profit of $1.978 million.

Subsequently, the same address opened a 50x leveraged short position on 15,000 shares of SP500, with a notional value of $111.38 million, at a final execution price of $8,295.66 per share.