HYPE saw over $12.65 million in short positions liquidated across the entire network in the past 6 hours, while HYPE's largest short whale reduced its holdings by $35 million in a week.

According to Mars Finance, on November 25th, Coinglass data showed that HYPE short positions across the entire network experienced liquidations of approximately $12.65 million in the past 6 hours, with Hyperliquid accounting for the largest share of liquidations, approximately 94% of the total. Furthermore, according to HyperInsight monitoring, the largest long position in HYPE on Hyperliquid is currently held by "Abraxas Capital," with a position size of $44.72 million. Recently, Abraxas Capital has been gradually closing out its HYPE short positions to lock in profits, along with reducing its spot holdings. Compared to November 18th, its short position size has decreased from $89.3 million to $44.7 million, with a current unrealized profit of $13.26 million.