Garret Jin sells 184,102 HYPE for $13.54 million, books $2.83 million profit
The trader identified as “1011 insider whale” exited the HYPE position at $73.58 in USDC while still holding leveraged long bets on Bitcoin and ZEC with sharply diverging unrealized results.
BTC
USDC
HYPE
Fact Check
The claim matches the original Onchain Lens X post exactly: Garret Jin ('1011 insider whale') sold all 184,102 HYPE for $13.54M USDC at $73.58, booking $2.83M profit, while still holding a leveraged BTC long (5x, $13.2M unrealized loss) and ZEC long (2x, $3.29M unrealized profit). Three independent crypto news outlets (PANews, BlockBeats, Odaily) all attribute and reproduce these figures from the same on-chain source, confirming the sharply diverging unrealized results described in the claim.
Summary
Garret Jin, identified as the “1011 insider whale,” sold all 184,102 HYPE at $73.58 for $13.54 million in USDC and realized a $2.83 million profit. The sale fully closed his HYPE position, while his broader portfolio remains exposed to leveraged directional trades. He still holds a 5x leveraged long BTC position with a $13.2 million unrealized loss and a 2x leveraged long ZEC position with a $3.29 million unrealized gain. Leveraged long positions can amplify both profits and losses, leaving the trader with materially different outcomes across assets.
Terms & Concepts
- leveraged long positions: Borrowed exposure that profits if prices rise.
- unrealized loss: A paper loss on a position not yet closed.
- USDC: A dollar-pegged stablecoin used for trading and settlement.