"Loracle" previously reduced its HYPE long positions near $30 to achieve a short-term top escape, with its position size having decreased by over $20 million.

BlockBeats News, on February 24, according to Coinbob's popular address monitoring, "Hyperliquid early contributor Loracle" began to reduce his long position for the first time on February 21 when the price of HYPE returned above $30. As of now, his position size has dropped from about $46.2 million to $26.1 million, a reduction of more than 43%, and he continues to make small reductions today. Currently, he holds a 5x leveraged HYPE long position at an average 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. After gradually rolling over the position, the size once reached $52 million, with peak unrealized profits exceeding $16 million, and at one point became the largest on-chain HYPE long position.

Loracle (X: loraclexyz), whose real name is 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 the Hyperliquid contract market.