As HYPE's price climbed to $26, most major long positions on-chain have turned profitable. However, a whale identified as a 'suspected HYPE listing insider' remains in significant loss. This whale's average entry price is $38.67, resulting in a narrowed floating loss from $23 million to $16.6 million. Despite the loss, the whale holds the largest HYPE position on-chain, valued at approximately $36.6 million. Conversely, another whale, who entered at an average price of $22.36 on January 12, has turned a loss into a profit. This whale now enjoys a floating profit of $5.3 million, with a total position size of $32.73 million, making it the second-largest HYPE holder on-chain.