Lookonchain Data: This whale has unlocked 27M HYPE, sold half and kept half, but still has 140k short positions losing money. Long-short hedging? Hedging in vain.

BlockBeats reported on May 25 that Lookonchain monitoring shows that the whale who previously shorted HYPE before its surge is now closing positions and selling HYPE. It has released 443,180 tokens (about $27 million), including selling 231,899 tokens (about $14.15 million); the remaining 211,281 tokens have not been sold yet (about $13 million). However, it still holds a short position of 141,500 tokens, and the unrealized loss has exceeded $2.5 million.