Trader Loracle Faces $31M Unrealized Loss on HYPE Short, Liquidates $6M in 24 Hours

According to BlockBeats, on May 27, trader Loracle's HYPE short position accumulated an unrealized loss of $31 million, representing a -139% drawdown, with the account liquidating over $6 million in assets in the past 24 hours. The position currently holds 1.8 million HYPE tokens at 5x leverage, worth $112 million at an average entry price of $45.37.

Monitored by Hyperinsight, Loracle's staking address (0xe44) is set to unlock approximately 895,000 HYPE tokens valued at approximately $55.5 million on May 28, potentially creating $55 million in selling pressure within the next 48 hours. Spot buy orders on Hyperliquid currently show net inflows of approximately $1.57 million over the next 24 hours.