"Suspected HYPE Coin Listing Insider" Giant whale long positions lose $17.2 million, urgently lowering the liquidation threshold to $24

GateUser-6433627c · 2026-02-24T01:53:21+00:00

On February 24th, HYPE's price continued to decline, with the largest bullish whale's unrealized losses expanding to $17.2 million. An emergency deposit of $2.4 million in margin was made to lower the liquidation line. The whale holds $36.18 million worth of HYPE long positions, currently with an unrealized loss of approximately 237%. Although it nearly broke even at one point, it never closed the position, with unrealized losses once approaching $26 million.

GateUser-6433627c

2026-02-24 01:53:21

Abstract generation in progress

On February 24, according to Coinbob’s popular address monitoring, as the HYPE price continued to decline, the largest long position on the chain for this token, suspected of “insider trading” related to HYPE listing, has seen its unrealized loss expand to $17.2 million. Last night and this morning, this whale urgently deposited a total of $2.4 million in margin in three transactions to lower the liquidation threshold. The address currently holds a 5x leveraged long position in HYPE, with a position size of approximately $36.18 million, an entry price of $38.67, and an estimated current loss of about 237%. The liquidation price has been lowered from $26.15 to $23.9. Currently, this position has only about 2.2% of room before liquidation. Although HYPE previously experienced a significant surge and this position nearly broke even, the whale has never chosen to close the position. This address went long aggressively on HYPE before its listing on Robinhood on October 23 last year. After opening the position, the price fell below the cost basis and remained in unrealized loss for a long time, without any rebalancing or reducing the position, continuing to hold through the losses. Previously, its unrealized loss peaked near $26 million, with a liquidation price of around $20.1, and in mid to late January, it was only 0.37% away from liquidation.

HYPE1.59%

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