It has been reported that Loracle.hl deposited 616,675 HYPE, worth $36.76 million, into Hyperliquid and sold the majority of it.

It is reported that most of the funds raised from the sales were used to support a short position of 1.8 million HYPE, worth approximately $103.7 million, and to avoid liquidation.

• New liquidation level: $83.33

• Unrealised loss: $22 million

• Additional assets: 626,289 $HYPE, worth approximately $40 million