BlockBeats News, May 29, according to Hyperinsight monitoring, the HYPE price surged above $60. The largest HYPE bearish trader, known as "Trader Loracle," has been continuously reducing their HYPE short position in the past 1 hour. As of the time of writing, they have reduced their holdings by a total of 63,000 tokens, approximately $3.8 million. Currently, their 5x leveraged short position has decreased to $102 million, with a remaining loss of $26.8 million (-127%).

Yesterday's news revealed that Loracle unlocked 893,000 HYPE tokens from their stake, worth around $54.5 million, marking the whale's largest single unlock in recent times. Their total historical staked amount is about 2.09 million HYPE tokens, valued at around $120 million.

The unlocked tokens are still held in their on-chain address and have not been sold yet. In the past month, the whale has unlocked their tokens twice, totaling 1.115 million HYPE tokens (equivalent to approximately $63.51 million). In a transparent on-chain transaction record, on May 21 (the day HYPE hit a new all-time high), they sold 557,000 HYPE tokens, worth around $33.35 million.

Contract Address: 0x8def9f50456c6c4e37fa5d3d57f108ed23992dae

On-chain Staking Address: 0xE44bd27c9F10fa2F89fdb3ab4B4F0E460da29EA8