The largest on-chain HYPE long is carrying about $56.56 million in unrealized profit on a 1.38 million-token position using 5x leverage, according to TradingBeats, formerly known as Hyperinsight. The trader has paid $5.03 million in funding fees and previously rotated frequently among contracts linked to Micron, SanDisk, Intel and Western Digital. The trader opened a roughly $40 million HYPE long about five hours before Robinhood announced HYPE’s spot listing on Oct. 23, 2025, leading community members to suspect access to undisclosed information and nickname the address the HYPE listing insider whale. The supplied reports also reference HYPE reaching another all-time high and monitoring cited on Aug. 24, but do not establish how that date relates chronologically to the Oct. 23, 2025 trade.