Attention has returned to another so-called whale-hunt episode on Hyperliquid, this time centered on a large PONS short held by trader Loracle. According to on-chain analyst Ai Yi, Loracle opened a 3x leveraged short on Sept. 3 and now holds roughly 25.04 million PONS, a position valued at about $19.41 million. The reported entry price is $0.6553, and the trade accounts for 19% of total open interest in PONS contracts on Hyperliquid. The position is currently showing a floating loss of nearly $3 million, while the trader is still adding to it. Separately, overseas analyst MLM said publicly yesterday that anyone interested in taking a large position against the short could contact him directly if their capital exceeded seven figures. MLM later said that commitments from eight-figure capital had already been secured. Loracle’s current liquidation price is around $1.83, meaning PONS would need to rise another 128% to trigger liquidation if no additional margin is posted.
Hyperliquid is again drawing attention over a PONS-related "whale hunt," according to on-chain analyst Ai Yi on Sept. 07.
Ai Yi said trader Loracle opened a 3x short position in PONS on Sept. 3 and now holds about 25.04 million PONS, worth roughly $19.41 million. The reported entry price is $0.6553, and the position makes up 19% of total open interest in PONS contracts on Hyperliquid. The trade is now sitting on a floating loss of nearly $3 million, and the position is still being increased.
Separately, overseas analyst MLM said publicly yesterday that anyone interested in heavily targeting the short could message him directly if they had capital above seven figures. MLM later added that eight-figure capital commitments had already joined.
Loracle’s liquidation price is currently around $1.83. Without additional margin, PONS would need to rise by about another 128% to trigger liquidation.
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