On-chain HYPE's major long positions are all deeply trapped, with the top holder, suspected of having insider information regarding HYPE's listing, suffering a paper loss of $21.3 million.

PANews reported on January 20 that, according to HyperInsight monitoring, all of the top 30 long whales in the current on-chain holdings list have suffered significant losses. The largest long position is still held by the whale "suspected insider of HYPE listing" (0x082e), which currently holds approximately $31.9 million, with an average price of $38.67, a floating loss of $21.3 million (-337%), and a liquidation price of approximately $20.13.

Previously, on December 18, the whale that "suffered a liquidation of 26 million HYPE long positions" is now the second largest long position on the chain, with a current holding of approximately $13.06 million, an average price of $38.67, a floating loss of $4.61 million (-177%), and a liquidation price of approximately $21.3.

The largest whale (0x1c2) closest to liquidation is currently trading at $22.32, only 2.87% away from liquidation, with a position size of approximately $11.14 million and a floating loss of $910,000 (82%). It's worth noting that this address also holds a long position in BTC using a cross-margin strategy, which is also experiencing significant floating losses and is nearing liquidation. Since both positions share margin, if the relevant cryptocurrencies simultaneously fall by more than 2%, this address will very likely face liquidation risk.