A whale spent 10.5 million USDC to buy 287,153 HYPEs and opened a 10x short position for hedging

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On June 24, according to Spot On Chain monitoring, a whale spent approximately 10.5 million USDC to purchase 287,153 HYPE tokens about 8 hours ago, with an average buying price of $36.56.

Meanwhile, the whale opened a 10x leveraged short position on HYPE, with a position size roughly equivalent to the spot holdings, potentially hedging against potential short-term downside risks.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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