HYPE Whale Sits on $58M Profit From $111M Long as Token Hits Record High

A nearly year-long bet on Hyperliquid (HYPE) has generated about $58 million in unrealized profit for trader “watershedpath,” as the token’s rally pushed it to a record high this week. 

Specifically, the trader has $111 million in HYPE exposure, the largest individual long position in the token visible on-chain, according to blockchain analytics platform Arkham.

Watershedpath has taken $18.5 million of margin out of the position over the past week while keeping the long open. The move lifted the liquidation price to $65, below HYPE’s current market price.

At that liquidation level, the trader’s gains already accumulated on the position would exceed the amount at risk, leaving the overall trade profitable even in the event of liquidation. 

HYPE traded at $82.43 at the time of the update after climbing 49.2% over the past month. It set a record of $83.53 on Aug. 26.

Source: Arkham