Data: HYPE breaking below $21 triggered a series of on-chain liquidations for major long positions, and if it drops to $20.3, it is expected to liquidate four major whales

According to monitoring by HyperInsight, due to the HYPE price dropping below $21 this morning, several major long whale positions on-chain have been consecutively liquidated. The largest long address, suspected to be a whale involved in "HYPE token listing insider information" (0x082e), transferred $1 million in margin to Hyperliquid last night after being silent for months, lowering its average long position price from $20.13 to $19.33. This position now has a scale of approximately $29.6 million, an average price of $38.67, and an unrealized loss of $23.78 million (-401%).

Yesterday, the second-largest long position on-chain, the whale "liquidated for $26 million HYPE long," faced an additional liquidation of $7.01 million, with its position size dropping from $13.06 million to $4.95 million, resulting in an unrealized loss of $2.28 million (-230%), with the next liquidation price around $20.6. Additionally, several million-dollar whales starting with addresses (0x666) and (0xa8c) were also liquidated. The whale closest to liquidation yesterday, a ten-million-dollar whale (0x1c2), faced a total liquidation of $10.64 million in HYPE longs today, and its ETH long position was also liquidated, recording a loss of $2.32 million, leaving only $320,000 in the account, which has now been withdrawn.

Furthermore, monitoring indicates that if the HYPE price further drops to the $20.3--20.6 range, over $23 million in liquidations are expected to occur on Hyperliquid, involving the "liquidated for $26 million HYPE long" and several whales starting with 0x433, 0x666, and 0xead, all of which have liquidation prices concentrated around this range.