BlockBeats News, February 24 — According to Coinbob’s popular address monitoring, “Hyperliquid early contributor Loracle” began reducing their long positions for the first time when the HYPE price retook the $30 level on February 21. As of now, their holdings have decreased from approximately $46.2 million to $26.1 million, a reduction of over 43%, and they are still slightly reducing their position today. Currently, they hold a 5x leveraged HYPE long position with an average entry price of $24.55, with an unrealized profit of about $1.51 million.
This position was established on January 12 at an average price of $22. It was gradually rolled over, with the position size once reaching $52 million. The peak unrealized profit exceeded $16 million, and at one point, it was the largest on-chain HYPE long position.
Loracle (X: loraclexyz), formerly Laurent Zeimes, is active within the Hyperliquid ecosystem and is regarded as one of the early contributors. He is the founder of Hypurrfun and has recently been active in Hyperliquid’s derivatives market.
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