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$HYPE Shorting whale takes a massive hit, spot profits can't cover the huge losses on shorts.
Loracle holds onto 893,000 HYPE in spot, never sold, and is sitting on a paper gain of $12.7 million as the price pumps.
However, they were forced to close all their shorts at the top, resulting in a direct loss of $46.459 million on the contracts. After calculating gains and losses, they still end up with a net loss of $33.75 million.
Previously unlocked 2.008 million tokens a month ago, and on the day HYPE hit a new high in May, they dumped 557,000 tokens to cash out.
#ShareYourUSStocksWinNvidia