Hupzy (Spot On Chain)|Jun 01, 2026 01:23
🚨 Known whale loracle.hl wiped out $42.2M in 10 months of perp profits on a HYPE short in just 18 days. The trade pushed him to a net loss of $5.19M. He's closed most of the short but still holds 843,232 HYPE (~$61.4M) short. Track the wallet: https://hypurrscan.io/address/0x8def9f50456c6c4e37fa5d3d57f108ed23992dae#perps
**Hupzy take:** A $42M profit wipeout on a single asset signals extreme momentum and potential short-squeeze dynamics. The remaining $61.4M short acts as latent buy-side fuel — any further upside forces more covering. Watch for whether this whale capitulates entirely or averages down; either way, the HYPE order book is heavily influenced by this position's management.
--source: https://x.com/lookonchain/status/2061255796302975226
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