BlockBeats report, February 21: According to Coinbob Hot Address Monitoring, as HYPE rebounded from its two-day low of $27 and regained above $30 today, the chain’s largest HYPE long whale, “Loracle, early contributor to Hyperliquid,” has begun continuously reducing and taking profits on its HYPE long position. Its current HYPE holding has dropped to $46.2 million at an average price of $24.55, with an unrealized profit of approximately $8.6 million, and it continues to make small-scale reductions as of press time.
The 5x leveraged HYPE long position was established on January 12 at an average entry price of $22, and after gradual pyramiding, the unrealized profit peaked at $16 million. Today marks the first profit-taking since position establishment.
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.