Whale flips to 2x HYPE long after unwinding $110M short at steep loss
The trader known as loracle.hl capitulated on a massive short position and flipped to long HYPE, ZEC, and NEAR, the trio Arthur Hayes called the 'holy trinity.'
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By
Editorial Team
·
Edited by
Vivian
Jun. 3, 2026
Prominent crypto trader loracle.hl has reversed his bearish stance on Hyperliquid (HYPE), closing a $110 million short position at a $46 million loss before opening a 2x leveraged long position on 82,195 HYPE, according to data tracked by Lookonchain.
loracle.hl (@loraclexyz) has closed his entire $110M+ $HYPE short, taking a $46.46M loss.
AdvertisementHe then flipped bullish on $HYPE and opened a 2x long on 82,195 $HYPE($5.73M).https://t.co/D6rm4xqAXv pic.twitter.com/aY0OCSN8s9
— Lookonchain (@lookonchain) June 3, 2026
The move occurred just before Grayscale launched its Hyperliquid Staking ETF, which undercuts competing HYPE ETPs with an industry-low 0.29% management fee.
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