A major HYPE token holder has withdrawn $7 million in margin from Hyperliquid, raising the liquidation price of their position to $25.04. This move follows HYPE's price surge past $34. The whale, who had heavily invested in HYPE before its Robinhood listing at an average price of $38.67, holds the largest on-chain position valued at approximately $43.7 million. Despite a floating loss of $9.7 million, the holder has not reduced their position, maintaining a strategy of holding through significant losses, which previously peaked at $26 million.