A Major Whale Sells Over 340,000 HYPE to Short the Market, Holding More Than $70 Million in Short Positions

According to ChainCatcher, on-chain data shows that early Hyperliquid whale Inga_no has sold a large amount of HYPE tokens over the past two days to supplement margin for his short positions and to short the market. He currently holds a total notional value of $70 million in short positions, distributed across ETH ($56 million), XRP ($5 million), SOL ($5 million), and BTC ($5 million).

In the past 24 hours, he has sold a total of 342,000 HYPE tokens (worth approximately $144 million).