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HYPE Falls to $40 as Short Seller Loracle Gains $1.28M in Single Day

GateNews
Derivatives DataPrice Volatility

According to BlockBeats and Coinbob address monitoring, HYPE declined to around $40 on May 13, down 10.7% over the past week. The largest short holder on Hyperliquid, “Loracle,” profited significantly from the decline, with unrealized gains expanding to $2.07 million and single-day profit reaching $1.28 million. Loracle is currently shorting 1.2432 million HYPE tokens at 5x leverage, valued at approximately $49.92 million with an average entry price of $41.8.

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