HYPE has retreated from its all-time high, trimming part of the unrealized loss tied to LORACLE’s short position, according to on-chain tracker Onchain Lens. Odaily reported that the pullback helped LORACLE recover roughly $3 million. Even after that move, the HYPE short was still sitting on an unrealized loss of about $16 million at the time of the update. The report did not provide extra details on the size of the position, entry level, or liquidation conditions. The latest figure only reflects the change cited by Onchain Lens as HYPE moved off its peak. The update centers on one monitored whale-level position and the mark-to-market swing linked to HYPE’s price reversal from record levels.

Onchain data tracker OnchainLens said on Aug. 7 that @loraclexyz increased its short bet on HYPE again, adding a new short position of 8,730 HYPE at roughly $55.71 each. The added position was valued at about $486,000. After the latest move, the address now holds a HYPE short position of about 546,700 tokens, with a total notional value of roughly $30.44 million. The average entry price for the position stands at $52.90, while the unrealized loss is currently around $1.52 million. OnchainLens also noted that the liquidation price for the position is $82.28. The address has been increasing its short exposure in recent days, and its cumulative loss over the past seven days has reached about $2.27 million.