On February 25, data from Coinbob Address Tracking showed that Loracle, a well-known on-chain trader, has once again significantly reduced its long position in HYPE. The position size dropped from $26.1M to $17.1M and has reduced over 67% from its peak on February 21. As of publication, the account continues to take profits through gradual unwinding. The current position remains leveraged at 5x with an average entry price of $24.55 and holds unrealized gains of approximately $1.96M.
From $22 Entry to $16M in Gains
The position was initially opened on January 12 at $22 per token and was rolled over time, expanding the exposure to a peak of $52M. Unrealized gains reached over $16M, making it the largest HYPE long on-chain. Recently, the trader has locked in over $20.13M in profits through long exposure to both HYPE and PAXG (on-chain gold).
- Initial Entry: January 12
- Average Price: $22
- Peak Gains: Over $16M
- Current Leverage: 5x
Inside the Trader's Background
Loracle, originally named Laurent Zeimes, is one of the early contributors to the Hyperliquid ecosystem. He is also the founder of Hypurrfun and has been actively trading on Hyperliquid's derivatives market recently. His Twitter account is @loraclexyz, drawing consistent community attention.