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Whale Caught Off Guard in This Altcoin: Opened a $5 Million Short, in Great Loss! - Coin Bulletin
The altcoin whale suffered tens of thousands of dollars in losses due to the short position opened.
According to data shared by Lookonchain, a blockchain analysis platform, a crypto whale made a notable transaction on the Hyperliquid exchange. It was reported that the whale opened a large short position on Hyperliquid by depositing 6 million USD Coin (USDC).
In the transaction in question, it was reported that the entry price for HYPE was $22.55. However, it was determined that the whale incurred a loss of $46,600 from this transaction due to the rise of HYPE in current market conditions.
This position in Balina is a total of 5 million dollars, and if the HYPE price reaches 44.4 dollars, the entire position will be liquidated.
Large-scale cryptocurrency transactions are of critical importance to investors in understanding market movements. Risky strategies such as short selling offer opportunities to investors, but also carry the risk of loss.
Experts warn investors that such transactions may cause fluctuations in market prices.
According to CoinGecko data, HYPE, which has shown a %5 increase in the last 24 hours, is currently trading at $22.7.