A trader unstaked 443,180 HYPE worth about $27 million and sold 231,899 HYPE valued at roughly $14.15 million while closing positions, according to blockchain analytics platform Lookonchain. The same trader was still selling 211,281 HYPE worth around $13 million at the time of the report and also held a 141,500 HYPE short position (a bet that the token price will fall) with losses exceeding $2.5 million. Unstaking (withdrawing previously locked tokens) can increase liquid supply by making tokens available for transfer or sale, while closing positions typically refers to exiting existing trades.