The largest long position holder in the on-chain intelligence ZHIPU is less than $27 away from liquidation, with the unrealized loss already expanded to 63.5%.
BlockBeats News, June 29th, according to Hyperinsight Monitoring, the Smart Spectrum (ZHIPU) has fallen 28% from its recent high in the past week, temporarily trading at $251 on Hyperliquid with a 3.8% 24-hour decline.
Alongside the price drop from its peak, the largest long position holder of ZHIPU on the platform is approaching liquidation, with the current liquidation price at only $27, and the liquidation price set at $224. This whale opened a $1.01 million long position on June 26th, with an average entry price of $268.58, currently facing an unrealized loss of 63.5%.
The recent market pressure mainly stems from the cornerstone investors' share unlock on July 8th. At that time, the number of freely tradable shares is expected to increase by about three times from the current level, raising concerns in the market about potential selling pressure.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Blackstone (BX.US) injects up to $1.5 billion, providing fresh ammunition for Pfizer (PFE.US) in the weight-loss drug race
Pfizer announced on Wednesday that it has reached an agreement with Blackstone to obtain up to $1.5 billions in funding to support the development of its experimental monthly obesity treatment drug.
Bernstein Downgrades Nvidia Rating and Target Price
Google (GOOGL.US) DeepMind launches AlphaGenome 2: Capable of decoding DNA cells with nearly double the mutation identification capacity
Google DeepMind has released its AI model AlphaGenome 2, which is trained on maps of over 100 millions of cells and has nearly double the ability of its predecessor in identifying gene expression variations.
Crypto prices
More
