🔥 Hedge whale places a time-based order to sell 63k HYPE spot tokens, while still holding a $25 million open short position in futures.


On April 16th, according to Hyperinsight monitoring, the hedge whale "HYPE's largest short" on Hyperliquid began selling its spot holdings today.
The address has densely placed 9 sell orders using a TWAP strategy, selling approximately $28 million worth of HYPE spot tokens, totaling 63k HYPE, valued at about $2.86 million.
Currently, more than half of the orders have been executed.
Meanwhile, the whale still holds a HYPE short position with 5x leverage, totaling $25 million, with an average price of $38.93, and an unrealized loss of $3.54 million (-70%).
It is now the largest short holder of HYPE on the platform.
In general, using short positions for hedging…
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HYPE-3.13%
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