Whale Still Down $8.7M on HYPE, Maintains Largest Long Position On-Chain

HYPE Rises, Whale Still Deep in the Red

According to HyperInsight, on January 28, HYPE's rebound to $32 brought profits to most major longs on-chain. However, one whale remains heavily underwater, drawing attention due to its massive exposure.

Position Opened at $38.67 Average Price

This whale placed its bet before HYPE launched on Robinhood, sparking speculation about potential insider knowledge. Its average entry price was as high as $38.67, and with a current position valued at around $44.8M, it’s still sitting on an $8.7M unrealized loss, or a 95% drawdown.

Refusing to Budge Despite Heavy Losses

Despite the position dipping below break-even and suffering a peak loss of $26M — even flirting with liquidation near $20 — the whale has not adjusted its position or reduced holdings by a single token.