A large HYPE long position worth about $53.3 million has returned to unrealized profit after enduring a steep drawdown, highlighting continued volatility in leveraged crypto trading.
A whale’s HYPE long position, now valued at about $53.3 million, has returned to unrealized profit after roughly four months. The position was opened in November at an entry price of $38.6 and at one point faced an unrealized loss of about $26 million when HYPE fell to $20 in late January. Based on the latest update, the trade is now showing around $440,000 in unrealized profit, marking a recovery from its earlier drawdown.