According to Lookonchain, whale trader 0x20B1 was forced to close all $HYPE short positions with 5x leverage on Hyperliquid, realizing a $23.5 million loss as HYPE surged sharply. Since April 29, 0x20B1 had deposited a total of $30.5 million USDC to maintain these short positions, but after liquidating the trades just two hours ago, only $6.98 million remains. This significant liquidation highlights increased volatility and risk in the $HYPE market, signaling potential for further price swings and increased attention from crypto traders monitoring major whale moves. (Source: Lookonchain, Twitter, May 23, 2025)

According to @EmberCN on Twitter, a major whale who shorted 1.875 million HYPE tokens ($57.14M) using 5x leverage since May 8 at an entry price of $20.4 was forced to close the position with a massive $23.52 million loss (-77%) after being liquidated. Despite continuously adding margin totaling $30.5M as HYPE price surged, the whale capitulated today. This event highlights strong bullish momentum in HYPE and suggests increased volatility and liquidations in meme coin sectors, impacting overall crypto market sentiment (Source: @EmberCN).