Whale spent about $50.8 million to increase its stake in HYPE to hedge short positions

ChainCatcher message, according to Onchain Lens monitoring, a certain whale is shorting HYPE for spot hedging. In the past 14 days, this giant whale deposited 112.3 million USDC into HyperLiquid to short HYPE at 3x leverage, with an unrealized profit of 2.4 million dollars, and purchased 387,417 HYPE at an average price of 13.12 dollars, spending 50.8 million dollars, with an unrealized loss of 270,000 dollars.