🐋 Whale shorting $53.5M is sitting on a $10.27M loss!
A whale, 0x5b5d…c060, has a short position worth ~$53.50M (with 5x leverage) and is sitting on an unrealized loss of ~$10.27M. This means they’re betting the price will fall, but it’s going up.
Notably, despite the large position, the margin (actual funds deposited) is only around ~$10.70M. The liquidation price is ~$297.0088, meaning the price only needs to rise another ~242.0% from its current level (~$86.8510) for this position to be wiped out.
The market could see significant volatility if this liquidation pressure kicks in. If you were in a short position like this and taking a loss, would you hold on or cut your losses?
For informational purposes only, not investment advice. DYOR.
#HYPE $HYPE
A whale, 0x5b5d…c060, has a short position worth ~$53.50M (with 5x leverage) and is sitting on an unrealized loss of ~$10.27M. This means they’re betting the price will fall, but it’s going up.
Notably, despite the large position, the margin (actual funds deposited) is only around ~$10.70M. The liquidation price is ~$297.0088, meaning the price only needs to rise another ~242.0% from its current level (~$86.8510) for this position to be wiped out.
The market could see significant volatility if this liquidation pressure kicks in. If you were in a short position like this and taking a loss, would you hold on or cut your losses?
For informational purposes only, not investment advice. DYOR.
#HYPE $HYPE