Loracle, HYPE's largest short seller, has transferred $64 million worth of physical assets to Hyperliquid, accompanied by stop-loss orders on his short positions.

CoinFeed reported on June 1st that, according to HyperInsight monitoring, as HYPE surged above $70, Loracle, the largest short seller of HYPE, continued to reduce his short positions in the past few hours. As of press time, his 5x leveraged short position size decreased from $102 million to $60.94 million, with a current loss of $22.58 million (-74%). It is understood that over the weekend, Loracle transferred 893,000 HYPE tokens from his on-chain spot holdings to Hyperliquid. With the price increase, the value of these tokens rose from $54.5 million to $64 million, and they have not yet been sold. In the previous month, this whale had unlocked a total of 1.115 million HYPE tokens (worth approximately $63.51 million) in two transactions.