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 Bubblemaps, a significant crypto whale wallet was rapidly liquidated, leading to a sharp and immediate price drop in the associated token. On-chain analysis from Bubblemaps shows that the wallet's large-scale sell-off caused a sudden liquidity crunch, resulting in increased volatility and a notable dip in market confidence. This event highlights the ongoing risks posed by concentrated token holdings and underscores the importance of monitoring whale transactions for short-term trading strategies (Source: Bubblemaps via Twitter, May 16, 2025).