Chain-based precious metals rise amid geopolitical tensions; Loracle's gold position up 27%

KuCoinFlash

Release Time: 02/28/2026 07:15:45

Summary

On-chain data shows chain-based precious metals rising sharply on February 28, 2026, as U.S.-Iran tensions escalated during a market holiday. Gold reached $5,386 per ounce, and silver reached $96.3. On-chain analysis reveals that Loracle’s PAXG position increased by 27% to $460,000 in unrealized profits, with a total position size of $8.42 million and an average entry price of $5,047.

BlockBeats report, February 28: According to Coinbob Hot Address Monitoring, during the market closure amid escalating U.S.-Iran tensions, precious metal contracts on-chain led gains as risk-off assets. Gold briefly rose to $5,386 per ounce, while silver briefly reached $96.30.

The largest on-chain PAXG (on-chain gold) long position, held by Hyperliquid early contributor Loracle, has seen its unrealized profit expand to $460,000 (approximately 27%), with a position size of $8.42 million at an average price of $5,047.

Loracle (X: loraclexyz), formerly known as Laurent Zeimes, is active in the Hyperliquid ecosystem and regarded as one of its early contributors; he is the founder of Hypurrfun and has recently been active in the Hyperliquid futures market.

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