【Whale Tracking】HYPE’s largest long is less than $4 away from liquidation; if the decline continues, it could trigger liquidation of an $82 million position

BlockBeats news, July 17, according to monitoring by Hyperinsight, HYPE has sharply dropped back to $59.6, with a 24-hour decline of about 10.5%. The “suspected HYPE listing insider” whale account’s 1-day capital withdrawal has expanded to $8.9 million.

The whale is currently going long on 1.38 million HYPE with 5x leverage, with a position value of about $82.6 million. Its entry average price is $38.67, for a return rate of about 274.6%. Since last October, it has continuously maintained a long-spot position base; its funding rate losses have now exceeded $4.03 million.

Data shows that it previously withdrew unrealized profits and margin multiple times after price increases. On July 12, another $1.9 million USDC was withdrawn. As the account’s margin continues to decrease, its liquidation price has risen further to $55.87.

As of the time of publication, the account value is about $12.28 million, while margin usage is about $16.54M. The current price of HYPE is only about $3.74 away from the liquidation line, or about 6.5%. If the position and account margin remain unchanged, the mark price would fall to around $55.88, and this $82.68 million long position will enter the liquidation range.

Note: Withdrawals will reduce the available margin for the full position, and the liquidation line will also change with factors such as account equity and funding fees.

Previous news: “HYPE’s largest long” withdrew a large amount of $9 million in margin; it has already realized more than $30 million in unrealized profits