According to Coinbob's Popular Address Monitoring, on February 27th, the well-known whale 'Loracle' fully closed its position in HYPE, realizing a profit of approximately $5.09 million.
Gradual Profit-Taking Strategy
The position was initially opened on January 12 at an average price of $22. At its peak, the position grew to $52 million with the price rising to $24.55, generating floating profits over $16 million. Loracle became the largest HYPE long holder on-chain.
After HYPE dropped below $30, the address started gradually taking profits through frequent small trades, eventually closing the entire position.
Shifting Focus to NVIDIA
Following the exit from HYPE, Loracle opened a long position in NVIDIA's synthetic contract this morning at $185.4 with 1x leverage, establishing a base position worth around $4 million.
Meanwhile, Loracle continues to hold a long-term leveraged position in PAXG (digital gold) with $8.2 million in value using 5x leverage. The current unrealized profit stands at $240,000, making them the largest PAXG long holder on-chain.
Key Figure in the Ecosystem
Originally named Laurent Zeimes, Loracle is an early contributor to the Hyperliquid ecosystem and founder of Hypurrfun. Recently, they've been actively involved in the Hyperliquid derivatives market.