HYPE dropped 22% from its peak, with the largest on-chain short position recording $5.56 million in unrealized profits.

On October 24, as tracked by Lookonchain, the price of HYPE has fallen approximately 22% from its prior high. The largest HYPE short address on-chain, 0xf02d, currently maintains a short position of 715,334 HYPE tokens, worth approximately $54.57 million.

Data indicates the address currently shows an unrealized profit of roughly $5.56 million, alongside accumulated earnings of about $620,000 from funding rates, bringing the combined total to approximately $6.18 million.