On-Chain HYPE Whales Fully Trapped, Major Holders Facing Unrealized Losses Exceeding $21.3 Million, Liquidation Risks Persist

According to the latest data from HyperInsight, all of the top 30 long-position whales on the Hyperliquid platform are currently in significant unrealized losses, with average entry costs far above the current spot price, and leveraged long positions generally deep underwater.
Key Whale Position Overview (as of January 20, 2026):

• Largest Long Whale (Address suspected to be 0x082e, related to "HYPE listing insider")
Current Position Size: approximately $31.9 million
Average Cost: $38.67
Unrealized Loss: $21.3 million (-337%)
Liquidation Price: approximately $20.13
This address has been widely suspected by the market of having prior knowledge of HYPE listing information. It is still holding the position without signs of reducing it.

• Second Largest Whale Position (liquidated $26 million on December 18)
Current Position Size: approximately $13.06 million
Average Cost: $38.67
Unrealized Loss: $4.61 million (-177%)
Liquidation Price: approximately $21.3
After the last major liquidation, the position has shrunk significantly but remains in a long position.

• Closest to Liquidation, Million-Level Whale (Address 0x1c2)
Current Position Size: approximately $11.14 million
Unrealized Loss: $0.91 million (-82%)
Liquidation Price: $22.32
This address also holds a full BTC long position. If BTC drops more than about 2% simultaneously, it will trigger a chain liquidation, amplifying the risk of liquidation.

Current Market Background (Updated at 18:30 on January 20, 2026):
$HYPE Spot prices fluctuate between $22.9–$23.7, with a 24-hour decline of about 4.5%–4.6%, a clear retreat from recent highs (ATH once exceeded $59).
24-hour trading volume exceeds $170–$180 million, market sentiment is cautious. The liquidation zone ($20–$22) has become a key psychological and technical support level.

Risk Warning:
If HYPE continues to decline below $22, the liquidation wave among long whales may further trigger chain reactions, amplifying market volatility.

The above data is sourced from on-chain public tracking. Actual positions may vary due to address segmentation, hedging, and other operations. For reference only; investment involves risks.
#HYPE #Whale