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ChainThink News, May 21 — According to Coinbob's popular address monitoring, after HYPE experienced a short-term surge and broke above $58, the largest short seller trader Loracle increased their short positions against the trend.
In the past hour, this address has accumulated approximately 61k short tokens, and as of press time, it continues to place sell orders above $58.
Since last night, this address has accumulated a total of 329k short tokens, worth approximately $19.2 million.
Currently, this address is short 1.78 million HYPE tokens with 5x leverage. As HYPE's price rises, the position size has passively increased to $104 million.
Its average entry price has moved up from $42.55 to $44.82, with a liquidation price at $69, and an unrealized loss of $24.2 million (-116%).
This short position was initially opened on April 20, when HYPE was priced around $41.
Over the past week, this trader’s account has experienced a total drawdown of over $25.8 million, with remaining margin dropping to $9 million.