HYPE's largest long whale position is $51.5 million, nearing liquidation. This morning, $4.5 million in margin was withdrawn.

Gate News reports that on March 12, Hyperinsight monitoring showed that as HYPE prices continued to rebound, surpassing $37 this morning, the largest long whale address for HYPE is close to being liquidated. The address currently holds approximately $51.5 million worth of HYPE, with an average cost of $38.67, and its unrealized loss has narrowed to $2 million (-3.9%). The liquidation price is $27.55, and the funding rate settlement has recorded a loss of $1.65 million.

This morning, the address withdrew about $4.5 million in margin, which actively raised the liquidation price from a low point to $27.5. For long positions, withdrawing margin means proactively raising the liquidation threshold, indicating that the whale believes HYPE “will not fall below $28.”

This whale has held its position for nearly five months: on October 23 last year, just before HYPE launched on a certain trading platform, the address significantly increased its long position. In early February, when HYPE rose to nearly $50, the address chose to continue holding. Subsequently, the price fell below the cost basis, but the address kept rolling over and adding longs up to $29. Unrealized losses once approached $26 million, with the liquidation price dropping as low as $20.1. In mid to late January this year, its position was only 0.37% away from the liquidation line.