Whale Goes 5x Long on $20M HYPE Bet
A crypto whale opens a $20M 5x long on HYPE, with $6M in limit orders and a $22.72 liquidation price.
- Whale opens a $20M 5x long position on $HYPE
- Plans to add $6M more via limit orders
- Liquidation price set at $22.72
A major crypto whale, identified as wallet address 0xBd8c, has made a bold move on the HYPE token. Over the past 15 hours, the whale opened a 5x leveraged long position worth 638,441.54 HYPE tokens — valued at approximately $20 million.
This aggressive bet suggests strong confidence in the short-term upside of HYPE, a trending token gaining momentum in the altcoin space. With leverage comes risk, but whales like 0xBd8c often move with insider knowledge or deep conviction.
More to Come: $6M in Pending Orders
The whale isn’t done yet. Limit orders have been placed to accumulate an additional 200,000 HYPE tokens — around $6 million worth — in the $29.5 to $30.399 price range. This layered strategy indicates a planned scaling-in approach, a technique often used by sophisticated traders to manage risk and maximize potential gains.
The addition of more capital in a tight price range suggests the whale anticipates a near-term breakout or a support rebound within that band.
Risk Factors: Liquidation Price at $22.72
Despite the whale’s confidence, the trade carries substantial risk. The current liquidation price stands at $22.72. If HYPE dips below this level, the position will be forcefully closed, resulting in significant losses.
With such a large position in play, retail traders and market watchers are keeping a close eye on this move. Whales often influence short-term price action, and this bet could spark further volatility in HYPE.
