Hyperliquid Contributor Reduces HYPE Holdings Amid Market Recovery

On February 25, Coinbob's popular address monitoring revealed significant activity by 'Hyperliquid early contributor Loracle' amid a market recovery. According to BlockBeats, Loracle substantially reduced their HYPE long positions overnight, decreasing from $26.1 million to $17.12 million, marking a reduction of over 67% from the peak on February 21. The position is still being closed for profit as of the latest update. The current position involves a 5x leveraged HYPE long with an average holding price of $24.55, showing an unrealized profit of approximately $1.96 million. Initially established on January 12 at an average price of $22, the position was gradually increased to $52 million, with peak unrealized gains exceeding $16 million, making it the largest HYPE long position on-chain at one point. Recent trading in HYPE and PAXG (on-chain gold) has resulted in a monthly profit of $20.13 million. Loracle, whose real name is Laurent Zeimes, is an active participant in the Hyperliquid ecosystem and is recognized as one of its early contributors. He is the founder of Hypurrfun and has been actively trading in the Hyperliquid contract market.