According to blockchain data analyst Ember's monitoring last (10th) night, after the platform token HYPE on decentralized exchange Hyperliquid rose and broke through $40, Machi Big Brother (Huang Licheng) who started building positions and buying HYPE on May 17th began gradually closing his long positions for profit, with floating gains reaching as high as $6.5 million:
As $HYPE price rose above $40, Machi Big Brother Huang Licheng started gradually closing his HYPE long positions for profit, currently floating gains of $6.5 million.
He purchased 200,000 HYPE spot tokens at $29.4 in May, and then went long on 650,000 HYPE through contracts with five-times leverage, with an average entry price of $35.6.
As HYPE price rose above $40, he began gradually closing his HYPE long positions. He currently still holds 440,000 HYPE long positions and 200,000 HYPE spot tokens.
Whales Make Large HYPE Purchases
One reason for HYPE's significant rise yesterday might be large-scale purchases by multiple whales. According to Lookonchain's earlier monitoring yesterday, two whales collectively spent $14.9 million to buy 385,720 HYPE tokens in the morning:
Two whales bought 385,720 HYPE tokens ($14.9 million) in the past 3 hours.
0x7E4E spent 9.97 million $USDC to buy 259,367 HYPE tokens at $38.5.
0x5dE5 spent 4.94 million $USDC to buy 126,353 HYPE tokens at $39.1 and staked them.
Additionally, besides Machi Big Brother, according to Onchain Lens's monitoring yesterday, a trader's 4x leveraged long position on HYPE also saw floating gains of $10 million.
HYPE Reaches New Historical High
According to CoinGecko data, HYPE broke through $42 this morning, creating a new historical high. At the time of writing, it slightly adjusted, currently trading at $41.19, with a market value of approximately $13.7 billion.
