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According to Arkham monitoring, trader “watershedpath” currently holds the largest on-chain HYPE long position, with a position value of more than $80 million. Affected by HYPE’s pullback from its all-time high, its unrealized loss over the past two weeks is about $18 million, and the remaining margin is about $16 million; if HYPE drops by $6 or more again, the position will be liquidated.