Gate News message, April 22 — Trader Loracle, an early contributor to Hyperliquid and founder of Hypurrfun, has increased short positions on HYPE to $19.7 million (5x leverage) at $40 per token, according to Hyperinsight monitoring. Loracle is rolling the position at approximately $300,000 per hour and is now the second-largest short holder on Hyperliquid.
The average entry price stands at $40.69, with current unrealized gains of $130,000. The position was opened on April 20. Loracle previously held significant long positions during HYPE’s rally from $20, when the trader was the second-largest long holder on-chain.
This marks a shift in positioning as Loracle takes a bearish stance on HYPE after profiting from earlier long positions during the token’s uptrend.
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