HYPE whale long opened at $38 nears liquidation as price falls

An anonymous trader known as smartestmoney is nearing liquidation on a 1.38 million HYPE long position opened in November last year at an average entry price of $38.6, according to EmberCN. The firm said the trader’s unrealized profit had reached $82 million when HYPE rose to $98, but shrank to $42.95 million after HYPE recently fell below $70. EmberCN added that the trader had withdrawn a substantial amount of collateral over time, pushing the liquidation price higher. The address’s current liquidation price stands at $62.09.