An early HYPE whale reportedly opened a 3x leveraged short worth $16 million after prior profits, adding to the market’s focus on leveraged crypto trades by major investors.
According to Lookonchain, an early HYPE whale initiated a 3x leveraged short position on 303,901 HYPE tokens valued at approximately $16 million. The same trader had previously secured more than $50 million in profits from earlier trades. This development comes alongside separate reports of crypto whale Tummy holding a 3x leveraged long on 440,000 HYPE tokens, with current unrealized losses of $245,000, plus additional mixed results from leveraged positions in ENA, PUMP, and PENGU.