HYPE dropping below $21 triggers on-chain whale cascade long liquidation, with a further drop to $20.3 expected to liquidate four major whales.
BlockBeats News, January 21st, according to HyperInsight monitoring, due to the HYPE price falling below $21 this morning, several on-chain major bullish whale positions have been successively liquidated. Currently, the largest long position address suspected of having insider information about HYPE (0x082e), after being dormant for several months, transferred $1 million in collateral to Hyperliquid last night, lowering its long position average price from $20.13 to $19.33. This position now has a scale of approximately $29.60 million, with an average price of $38.67, and an unrealized loss of $23.78 million (-401%).
Yesterday, the second-largest on-chain long position, the "260 million liquidated HYPE long" whale, was further liquidated by $7.01 million, reducing its position size from $13.06 million to $4.95 million, with an unrealized loss of $2.28 million (-230%), and a next round liquidation price of approximately $20.6. In addition, whales starting with addresses (0x666) and (0xa8c) also faced liquidation.
Yesterday, the closest to liquidation whale in the tens of millions (0x1c2), today saw a total of $10.64 million in HYPE long liquidation, with its ETH long position also being liquidated, resulting in a total loss of $2.32 million, with only $0.32 million remaining in the account, and the whale has now withdrawn and exited.
Furthermore, according to monitoring, if the HYPE price further drops to the $20.3–$20.6 range, it is expected that there will be another liquidation of over $23 million on Hyperliquid, involving the "260 million liquidated HYPE long" whale, as well as whales starting with addresses 0x433, 0x666, and 0xead, with their liquidation prices concentrated around this range.
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