HYPE slid to $58.78 before trimming losses, while a whale placed $20 million in staggered buy orders between $20 and $40 and held a small short alongside $40.2 million in the account.
HYPE extended its decline on July 17, touching $58.78 before trading at $59.2 at press time, down 11.2% on the day and 10% below its intraday high. The move came as Hyperinsight tracked fresh whale positioning around the token, adding to earlier scrutiny of an account linked to the alleged HYPE listing-insider trade. Alongside its previously reported 5x leveraged long of 1.38 million HYPE worth about $82.6 million, with liquidation near $55.88 after repeated margin withdrawals including $1.9 million USDC on July 12, Hyperinsight said a whale placed 60 limit buy orders between $20 and $40 for 666,700 HYPE. The orders carried a notional value of about $20 million and a weighted average price of $30. The account also held $40.2 million and a short position of 4,218 HYPE worth about $250,000, underscoring active positioning as traders watched whether deeper declines would test leveraged exposure.