「Suspected HYPE Listing Insider Whale」 Faces $10 Million Unrealized Loss, HYPE's Largest Bear Abraxas Capital Successively Liquidates

On November 24th, according to the monitoring of HyperInsight, likely due to the upcoming large unlock, HYPE has been on a steady downward trend recently. The "Suspected HYPE Listing Insider" whale (0x082) has been in a loss with its HYPE long position since the 19th. The current floating loss is approximately $10.16 million (-126%), and it holds a position size of about $40.7 million with an average price of $39. Currently, it has the largest long position on HYPE on Hyperliquid. This address opened a $40 million HYPE long position (5x) 5 hours before Robinhood announced the launch of HYPE spot trading on October 23rd, which once led to community suspicion of insider trading. The previously opened long positions of STRK and PURR on November 9th were closed on the 22nd, and now it only holds the HYPE long position. According to the monitoring, the largest short position on HYPE on Hyperliquid, "Abraxas Capital," has been continuously selling HYPE spot and closing HYPE contracts. In nearly 2 hours, it has sold a total of 20,000 tokens, equivalent to about $620,000. The buy-in price for its spot position liquidation was $43, and there is a remaining $3.8 million spot position.