HYPE whale holdings narrow two-month unrealized losses: rebound from 13% indicates large holder competition

【Blockchain Rhythm】A large whale’s HYPE long position on Hyperliquid has recently attracted attention. Since January 2, HYPE has gained over 13%, reaching a high of $27.4. This rebound has somewhat alleviated the whale’s situation—unrealized losses have narrowed from approximately $20 million to $17 million, with a current average price of $38.6, a liquidation price of $20, and a total position size of about $36.44 million. It is the largest long position holder on the HYPE trading pair on the Hyperliquid platform.

Interestingly, this whale’s history is notable. On October 23 last year, just before a major platform announced the launch of HYPE spot trading, this whale opened a large long position. At that time, some community members suspected insider information behind this move. Now, more than two months later, although this long position has seen a short-term rebound, it remains deeply in loss. Perhaps this was simply a misjudgment of market optimism, or the whale is still waiting for a bigger reversal opportunity. Ultimately, the market continues to test the patience and risk tolerance of every participant.