HYPE Whale Sits on $58M Profit Amid $111M Long Position

A pseudonymous trader known as 'watershedpath' has amassed $58 million in paper profit from their largest-ever long position in HYPE, the native token of Hyperliquid.

This is according to a recent on-chain analysis by Arkham, which also revealed that the trader withdrew $18.5 million from the position.

The rare insight into the strategy of one of the largest holders of HYPE has sparked interest among crypto traders and DeFi participants.