Leo Huang Executes Overnight HYPE Sell-Off Amid Heavy Losses
On January 20, on-chain activity revealed that an address linked to prominent investor Leo Huang (0x020c…) steadily reduced its long position in HYPE over a nearly 10-hour window from the evening of January 19 to the early hours of the 20th, culminating in a full exit.
At the start of the unwind, the position was valued at approximately $2.82 million, already down 85% on paper. Over the course of the night, around $2.41 million was sold off, with the remaining $1.187 million liquidated in one final move, resulting in a total realized loss of roughly $560,000.
From NFT Gains to Recent Market Setbacks
Known for early success in blue-chip NFT trading, Huang once managed a portfolio exceeding nine figures. However, since re-entering active markets in October, his positions have faced repeated drawdowns, with capital eroding significantly amid volatile conditions.
- Duration of sell-off: Nearly 10 hours
- Initial position size: $2.82M
- Final loss: ~$560K
- Exit timing: Early morning, January 20
This event underscores the risks of concentrated exposure in turbulent markets, especially when leveraged positions face prolonged downside pressure.