HYPE short-selling whale plans to short more on the rebound, places $18 million sell order above $57

Odaily reports that according to monitoring by Hyperinsight, a whale (address: 0x4e23) has placed 62 limit sell orders for HYPE from last night to this morning, with prices ranging from $57.27 to $58.34. The whale plans to sell approximately 320,400 more tokens, with a nominal value of about $18.461 million, and the weighted average price of the orders is around $57.62.

Of these, 55 orders are concentrated between $57.27 and $57.74, accounting for about 273,200 tokens and approximately $15.709 million, representing 85.3% of the total orders; another 7 are at prices between $58.22 and $58.34, totaling about $2.752 million.

HYPE is currently quoted at around $55.42. These sell orders are 3.4% to 5.3% above the current price and are not liquidation orders. This means the whale is waiting for a price rebound to further increase short positions, rather than taking profits and exiting. So far, 8 orders have been partially filled, with approximately 10,400 tokens sold for a total transaction amount of around $597,000.

This whale is currently shorting about 71,900 HYPE with 5x leverage across the entire position, and the position value is approximately $3.985 million. The average entry price is $57.17, with unrealized profits of around $126,000, yielding a return rate of about 15.3%.

If all remaining limit orders are filled, the whale’s HYPE short position will increase to approximately 392,300 tokens, with an estimated average entry price around $57.54, and the position scale will expand to about $22.572 million.