loracle.hl unlocked approximately 890,000 more HYPE tokens and dumped them, using spot trading to support a massive short position.

CoinFeed reported on May 29th that, according to Lookonchain, the address loracle.hl has unstaking another 892,513 HYPE tokens, equivalent to approximately $55.9 million at current prices, and may continue to sell. It still holds 1.75 million short positions in HYPE on Hyperliquid, with a notional size of approximately $108.5 million, currently showing a floating loss of approximately $28.77 million.