Trader Adds to HYPE Short Position as Losses Reach About 2.27 Million Dollars Over Seven Days

BlockBeats reported on August 7 that @loraclexyz continued to increase a HYPE short position, adding 8,730 HYPE shorts at about $55.71 each. According to BlockBeats On-chain Detection, the address now holds about 546,700 HYPE in short positions.

The position is valued at about $30.44 million, with an average entry price of $52.90 and an unrealized loss of about $1.52 million. The liquidation price is $82.28.

The address has kept adding to its short exposure recently, and its cumulative loss over the past seven days is about $2.27 million.