A whale who went long on HYPE at a high price once suffered a paper loss of $26 million, but has now recovered its losses and is now showing a paper profit of $8.5 million.

CoinFeed reported on April 16th that, according to Yu Jin, as the price of HYPE rose to $45, a whale who went long on 1.38 million HYPE contracts (approximately $62.13 million) at the high of $38.6 last November has broken even and made a profit of approximately $8.5 million, reversing a previous floating loss of approximately $26 million. During this period, the price of HYPE briefly dipped to $20.5 at the end of January this year, and has since rebounded by approximately 120% from that low.