The largest long position holder of ZHIPU on-chain is less than $27 away from liquidation, with unrealized losses expanding to 63.5%.
BlockBeats news, on June 29, according to Hyperinsight monitoring, ZHIPU has cumulatively fallen 28% from its recent high in the past week. It is temporarily quoted at $251 on Hyperliquid, with a 24-hour drop of 3.8%.
As the price declines from its peak, ZHIPU’s largest long position holder on the platform is nearing liquidation, with just $27 left from the liquidation price of $224. This whale opened a $1.01 million long position on June 26, with an average entry price of $268.58. The current floating loss has reached 63.5%.
The main pressure on the market recently stems from the unlocking of cornerstone investor shares scheduled for July 8. At that time, the number of freely tradable shares is expected to increase about threefold compared to the current level, raising market concerns over 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.
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