ME News report, July 23 (UTC+8): According to Hyperinsight monitoring, as of press time, SPCX on Hyperliquid is trading at approximately $116, down 49.6% from its peak of $230 and 14.1% below its IPO offering price of $135; today’s intraday low reached $114.48, temporarily widening the discount to 15.2%. The whale address starting with 0x3527 first established a position on July 16, nearly seven days ago. Since then, it has consistently averaged down, adding to its position daily without any reductions, accumulating a total of 111,700 SPCX tokens; the total notional value invested is approximately $14.196 million. Currently, this whale holds a 20x leveraged long position in SPCX at an average entry price of $127.1, with a position value of approximately $12.958 million; the unrealized loss stands at about $1.238 million, resulting in a return rate of -174.5%, with losses exceeding the initial margin of this position. Theoretically, the liquidation price based on margin is around $113.06, just $2.94 below the current price; however, this address has enabled portfolio margining. With 301,900 HYPE tokens (approximately 60,000 newly added recently) included as collateral, they collectively support the SPCX losses. The risk lies in the simultaneous decline of HYPE and SPCX, which causes a dual contraction in collateral value and position equity; upon triggering the threshold, the system may liquidate HYPE collateral. All positions held by this address—including SPCX and CRCL—are long-only, with SPCX accounting for approximately 72% of total position value, indicating a classic highly leveraged directional long bias. No stop-loss or reduction orders have been placed, and there has been no record of any closed positions since the initial long position was opened seven days ago. (Source: BlockBeats)
SPCX Price Falls 15% Below IPO, Whale Suffers $1.23M Loss
KuCoinFlashShare
Summary
The SPCX price dropped 15.2% on Hyperliquid, reaching $114.48 on July 23 (UTC+8), below its $135 IPO price. Whale address 0x3527 holds 111,700 SPCX at an average cost of $127.1, incurring a $1.238 million unrealized loss. The position is leveraged 20x, with a liquidation price at $113.06. The address added 60,000 HYPE as collateral. Price analysis indicates continued downward pressure.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.