HYPE rises to $39, whale unlocks $54 million long position

On March 16, Hyperinsight monitoring showed that the price of HYPE rebounded to $39, reaching a nearly 4-month high. The largest long position on-chain, suspected to be an "insider whale" related to HYPE listing, has turned profitable. The $54 millions HYPE long position has been unlocked, with the current average holding price at $38.67, a floating profit of $590,000 (5%), liquidation price at $27.55, and funding rate settlement has already recorded a loss of $1.66 millions. As of press time, the position has not yet been closed. This whale began building long positions on the eve of HYPE's launch on Robinhood on October 23 last year, and continued to hold even when HYPE rose to nearly $50 in early February.