"Loracle" previously reduced its long position in HYPE near $30 to realize a short-term top, with the position size reduced by over $20 million.

Mars Finance News: On February 24, according to Coinbob’s popular address monitoring, “Hyperliquid early contributor Loracle” began reducing their long positions for the first time when the HYPE price retook the $30 level on February 21. As of now, their holdings have decreased from approximately $46.2 million to $26.1 million, a reduction of over 43%, and they are still slightly reducing today. Currently, they hold a 5x leveraged HYPE long position with an average entry price of $24.55, with an unrealized profit of about $1.51 million. This position was established on January 12 at an average price of $22, and after rolling the position gradually, the holding size once reached $52 million, with a peak unrealized profit exceeding $16 million, and at one point, it was the largest on-chain HYPE long position. Loracle (X: loraclexyz), formerly Laurent Zeimes, is active in the Hyperliquid ecosystem and is regarded as one of the early contributors. He is the founder of Hypurrfun and has recently been active in Hyperliquid’s derivatives market.