Blockchain monitoring reveals a wallet acquired $7 million in HYPE within 12 hours, now facing over $270,000 in unrealized losses as the token trades 11.4% below its recent peak.
On-chain analyst Ai 姨 reported that address 0x8d0…59244 purchased $7 million worth of HYPE in the last 12 hours at an average price of $34.9 per token. HYPE is currently trading at $33.54, down 11.4% from a recent high, leaving the wallet with an unrealized loss of approximately $272,000. This activity follows earlier market moves in which the same address, labeled 'ZEC largest short,' expanded its short exposure to $11.47 million, highlighting the token’s ongoing volatility and sharp valuation swings in both long and short positions.