BlockBeats news, December 22, according to Coinbob hot address monitoring, the address associated with the “former Hyperliquid employee” (0x7ae) has been continuously reducing its HYPE spot holdings since this month, with the position size dropping from $5.85 million to $2.48 million, accumulating a reduction of over 70,000 tokens. The current HYPE holding is approximately 98,200 tokens. Additionally, affected by the decline in HYPE price, the address has incurred a monthly loss of $1.43 million, with account funds around $4.2 million. Furthermore, the address also holds a small HYPE short position, with an average price of $24.17, a floating loss of 43.5%, and a position size of about $25,800.
The address initially gained attention due to shorting HYPE and being tagged as related to the Hyperliquid team. According to a statement released by the Hyperliquid team today, the address belongs to a former employee who was terminated in the first quarter of 2024 and is now completely disassociated from Hyperliquid Labs. Its actions do not represent the team’s standards or values.
