Trader Loracle shorted HYPE, resulting in a floating loss of $310 million

According to Hyperinsight monitoring, trader Loracle's HYPE short position has a floating loss of $310 million (-139%), and the account has withdrawn over $6 million in funds in the past 24 hours. At present, the address is short selling 1.8 million HYPE with 5-fold leverage, with a position size of 112 million US dollars, an average opening price of 45.37 US dollars, and a liquidation price of 89.4 US dollars. The giant whale attempted to short SNDK last night and this morning but was forced to close three times, clearing a total of 530000 US dollars. Coupled with HYPE's return to above 62 US dollars, the account margin has been cleared. In addition, its pledged address (0xe44) will unlock 895000 HYPEs (worth approximately $555 million) on May 28th, potentially bringing $55 million in selling pressure to HYPEs. As of press time, HYPE's spot end will have a net purchase of approximately $1.57 million in the next 24 hours.