On-chain HYPE's biggest bull 「Loracle」 takes profit on long for the first time, reducing position size to $46.2 million

BlockBeats News, February 21st, according to Coinbob Popular Address Monitoring, with HYPE rebounding from a low of $27 in the past two days, returning to above $30 today, the on-chain HYPE's largest bullish whale, "Hyperliquid early contributor Loracle," has started continuously reducing the HYPE long positions to take profit. Currently, its HYPE holdings have been reduced to $46.2 million, with an average price of $24.55, and an unrealized gain of about $8.6 million. As of the time of writing, small-scale reductions are still ongoing.

The 5x leveraged HYPE long was opened on January 12th, with an average price of $22, and after gradually increasing the position, the peak unrealized gain once reached $16 million. Today marks the first profit-taking operation since the position was opened.

Loracle (X: loraclexyz), originally named Laurent Zeimes. He is active in the Hyperliquid ecosystem, considered one of the early contributors, the founder of Hypurrfun, and recently active in the Hyperliquid smart contract market.