Markets· ★★· bearish·

Largest HYPE short nets $5.56M as token falls 22% from peak

  • —Short covers 715,334 HYPE, valued at $54.57 million
  • —Unrealized profit on the position stands at $5.56 million
  • —Another $620,000 earned through funding rate payments
  • —HYPE has dropped 22% from its all-time high
Why it matters: The oversized HYPE short signals that traders are positioning for further downside in Hyperliquid's token after its sharp correction.
#HYPE
Source: PANews
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