On-chain data shows that a well-known swing trader has gradually closed their short positions on HYPE and XPL over the past 6 hours. As of now, this account still holds approximately $38.2 million worth of HYPE short positions on Hyperliquid, with an average entry price of $31.3, and a liquidation price set at $42.7, making it the largest short whale for this token.

Interestingly, the position allocation of this address has recently undergone a significant change. About ten days ago, the account's funds were highly concentrated in ETH and HYPE shorts, accounting for as much as 98.6%. Now, the strategy has clearly diversified, with short positions also opened on assets like BTC, SOL, and kPEPE. The total account size has expanded from $111 million to the current $149 million.

Specifically, the main positions include: approximately $62.89 million in 12x leveraged ETH longs (average entry at $3,108, floating profit of $400,000), approximately $37.60 million in 5x HYPE longs (average entry at $31.3, floating profit of $8.33 million), and approximately $14.76 million in 11x leveraged BTC longs (average entry at $91,800, floating profit of $250,000). This trader's style is high-frequency swing trading, with an average holding period of about 20 hours, actively participating in the market since October last year with around $20 million in principal.