BlockBeats reported on Aug. 25 that, according to TradingBeats, formerly Hyperinsight, two HYPE whales placed 509 non-reduce-only sell orders earlier today. The remaining planned sale totals about 449,500 HYPE, with a notional value of roughly $42.226 million and a weighted order price of $93.94.
The two sets of orders were created less than two minutes apart. So far, there is no data showing a link between the two addresses.
0x4e23 flips from long to short
One of the wallets, the previously tracked whale beginning with 0x4e23 and labeled the "U.S. stock big winner," had still been holding a 152,800 HYPE long position yesterday. That position has now been fully closed for profit.
Earlier today, the address placed 24 new sell orders within one minute, aiming to flip short 327,300 HYPE in the $90.385 to $104.68 range. The planned notional value is about $31.50 million, with a weighted average price of $96.25.
0xf02d adds to an existing short
Another whale address beginning with 0xf02d is already short 391,100 HYPE. The position is valued at about $31.29 million, with an average entry price of $75.92, and is currently showing an unrealized loss of about $1.598 million.
That address also laid out 485 additional short orders today in the $80.409 to $99 range. It still plans to short another 122,200 HYPE, representing about $10.726 million in notional value. The lowest order sits only about 0.5% from the current price, and some of the orders have already started to fill.