TechFlow News: On June 2, according to Hyperinsight monitoring data, “Trader Loracle”—the former largest short-seller of HYPE—has not sold any of the 893,000 HYPE tokens he received last week following their spot unlock. As HYPE’s price has risen, this batch of unlocked spot tokens has appreciated by 25% to date, with a current value of approximately $63.5 million and unrealized gains of roughly $12.7 million.
The losses on the derivatives side far exceed the spot gains. Today, he fully closed over $102 million worth of HYPE short positions at elevated prices, ultimately incurring losses totaling $46.459 million. Even after offsetting these losses with the unrealized spot gains, this address still records a net loss of approximately $33.75 million.
Over the past month, this whale has unlocked HYPE tokens three times, totaling 2,008,000 tokens. According to traceable on-chain records, he sold 557,000 HYPE tokens on May 21—the same day HYPE first broke its all-time high—for approximately $33.35 million.
