HYPE Price Plummets Below Key Support, Triggering Chain-Wide Liquidation Storm

According to HyperInsight monitoring, HYPE's price breaking below the $21 critical support level on January 21 quickly triggered a chain reaction of long position liquidations. Multiple major whale positions were successively blown up, sending shockwaves through the market.

Whales Adding Fuel to the Fire

The whale (address 0x082e) previously dubbed the 'insider candidate' suddenly activated after months of dormancy, injecting an additional $1 million margin into Hyperliquid to lower its long position average price from $20.13 to $19.33. Despite these emergency measures, the current $29.6M position still faces a massive $23.78M unrealized loss (-401%).

Long Positions Crumbling

• The '26M liquidated long' whale suffered another $7.01M liquidation hit
• Position size plummeted from $13.06M to $4.95M
• Current unrealized loss reached $2.28M (-230%) with next liquidation threshold approaching

Systemic Risks Emerge

Monitoring data shows that if HYPE further drops to the $20.3–20.6 range, Hyperliquid will see over $23M in liquidations. Multiple whales holding significant positions (including addresses starting with 0x433, 0x666, 0xead) now face margin calls, potentially triggering cascading effects across the market.