On February 24, BlockBeats reported that Loracle, an early contributor to Hyperliquid, began reducing his long position in HYPE when its price exceeded $30 on February 21. According to BlockBeats On-chain Detection, Loracle's holdings have decreased from approximately $46.2 million to $26.1 million, marking a reduction of over 43%. He continues to make slight reductions today.
Currently, Loracle holds a 5x leveraged long position in HYPE at an average price of $24.55, with an unrealized profit of about $1.51 million. The position was initially established on January 12 at an average price of $22, and through gradual rolling, the holdings once reached $52 million, with peak unrealized profits exceeding $16 million. At one point, Loracle was the largest long position holder of HYPE on-chain.
Laurent Zeimes, known as Loracle (X: loraclexyz), is recognized as an early contributor within the Hyperliquid ecosystem and is the founder of Hypurrfun. He has been actively participating in the Hyperliquid contract market recently.