BlockBeats reported on August 2 that Hyperinsight monitoring showed well-known Hyperliquid trader Loracle increased his short position in HYPE. According to BlockBeats On-chain Detection, the value of his HYPE short position is now $19.76 million, with an entry price of $52.9926.

Loracle also holds an ETH short position worth about $20 million, with an entry price of $1,843.05.