According to a Coinbob tracking report on February 24, Loracle, an early contributor to Hyperliquid, began reducing his long position in HYPE when the price returned above $30 on February 21. To date, his holdings have dropped from around $46.2 million to $26.1 million, representing a reduction of over 43%. He continues to slightly reduce his position even today. Currently, he holds a 5x leveraged long position in HYPE at an average price of $24.55, with an unrealized profit of approximately $1.51 million.
Historical Position and Performance
This long position was initially established at an average price of $22 on January 12. Through successive rollovers, the position size peaked at $52 million, with unrealized profits exceeding $16 million, briefly becoming the largest HYPE long on-chain.
Background and Activities of Loracle
Loracle, originally known as Laurent Zeimes, is an active participant in the Hyperliquid ecosystem and recognized as one of its early contributors. He is also the founder of Hypurrfun and has recently gained attention for his trading activity in the Hyperliquid derivatives market.