ME News reports that on September 7 (UTC+8), on-chain analyst MLM publicly announced the formation of a team to target Loracle, the largest PONS short position on Hyperliquid, and invited users with substantial capital to contact him privately. He later stated that those with seven-figure capital can reach out, and he has already secured commitments totaling eight figures. According to TradingBeats monitoring, the address starting with 0xefe4, labeled as a "Loracle sub-address," currently holds approximately 25.1892 million PONS short positions, valued at around $21.0961 million, with 3x leverage, accounting for roughly 19.1% of Hyperliquid’s total PONS open interest. The average opening price for this position was approximately $0.6562, while the current PONS price is $0.8374, resulting in an unrealized loss of about $4.5655 million. The liquidation price for this position is approximately $1.8288; without additional margin, PONS would need to rise by about 118.4% from its current price to trigger liquidation. (Source: BlockBeats)
Hyperliquid's largest PONS short holder, 'Loracle,' faces a hunt, with the Whale Hunting Team claiming an eight-digit funding commitment.
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Summary
A chain analyst from MetaEra, MLM, has announced a plan to target Loracle, the largest PONS short on Hyperliquid, with a whale-hunting team claiming eight-digit funding commitments. According to TradingBeats, the 0xefe4 address holds 25.1892 million PONS in short positions, valued at $21.0961 million at 3x leverage. The average entry price is $0.6562, and the current price is $0.8374, resulting in a $4.5655 million floating loss. The liquidation price is $1.8288, requiring an 118.4% increase from current levels. The risk-to-reward ratio for this move appears skewed, with a high likelihood of triggering a margin call. Traders are advised to closely monitor funding rate strategies, as the position remains exposed to volatility.
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