A whale opened a long position of 1.38 million HYPE, turning a floating loss around and realizing a profit of $8.5 million.

Odaily reported that, according to on-chain analyst Yujin, a certain whale opened a long position of 1.38 million HYPE, worth $62.13 million, at last November’s high of $38.6. When the price of HYPE dropped to a low of $20.5 at the end of January, this led to an unrealized loss of $26 million. Since then, as the price of HYPE rebounded to $45—an increase of 120% from its lowest point—the whale’s unrealized loss turned into break-even and eventually a profit of $8.5 million.