Taiwanese music celebrity Jeffrey Huang, sold $25.8 million of Hyperliquid (HYPE) tokens at a $4.45 million loss. He also forfeited $19 million in unrealized profit. Despite this, he maintains a $117 million ETH long position and a $28.4 million Pump.fun (PUMP) position.

A whale withdrew $122 million in HYPE tokens, causing concern over the token’s ability to absorb supply pressure. BitMEX co-founder Arthur Hayes’ family office issued a warning about upcoming token unlocks that could create $410 million in potential overhang. Hyperliquid’s market share has fallen to 33% from 65% in July.

Aster and Lighter DEXs saw rising market shares, while Hyperliquid’s fell. Aster briefly reached $2 billion in total value locked. The HYPE token hit an all-time high of $59.29 before dropping to $48.20. Analysts warn of future challenges in the DEX landscape related to liquidity provisions, product design, and blockchain performance.

Read more at Cointelegraph: Machi Big Brother’s $25M HYPE Bet Closed At $4M Loss Amid DEX Competition