Lookonchain and Onchain Lens reported several large HYPE derivatives trades that show sharply divided whale sentiment. In the largest positions, Ember Loracle held a 1.44 million HYPE short valued at about $68.43 million to $69.3 million, opened at $42.55 with a reported liquidation price of $69.64 and an unrealized loss of about $7.004 million to $8 million. On the other side, trader 0x082e held a 1.38 million HYPE long worth roughly $66 million to $66.3 million; Lookonchain said the 5x leveraged trade was opened more than six months ago and later reached about $12.9 million in unrealized profit after previously showing losses exceeding $25 million. Earlier reporting on that long cited an entry price of $40.44, a liquidation price of $37.96, funding fees paid totaling $2.3 million, and unrealized profit above $12.7 million. Separately, another large holder sold 50,000 HYPE worth $2.41 million and then opened a 223,404 HYPE short valued at $10.55 million using 10x leverage over roughly 10 hours. Together, the trades highlight large directional bets and the heightened volatility and liquidation risk associated with leveraged HYPE positions.