Hyperliquid is witnessing another 'whale hunt' as the whale Loracle holds a 3x short position on PONS, with 25.04 million PONS worth $19.41 million, representing 19% of open interest. The position is underwater with a floating loss of nearly $3 million. On-chain analyst MLM has publicly called for funds to target this whale, stating that over seven-figure capital can contact him privately, and later adding that eight-figure commitments have been secured. Loracle's liquidation price is $1.83, meaning PONS must rise 128% to trigger a forced liquidation, corresponding to a market cap of $1.284 billion. Additionally, Loracle had previously built a zero-fee fork of PONS in an attempt to mitigate losses.
Hyperliquid Sees Another 'Whale Hunt' as MLM Calls for Funds to Target PONS Short Whale
According to monitoring by on-chain analyst Ai Yi, Hyperliquid witnessed another 'whale hunt' targeting a short whale. The whale, known as Loracle, opened a 3x short position on PONS on September 3, currently holding 25.04 million PONS (worth approximately $19.41 million) at an entry price of $0.6553. This position accounts for 19% of Hyperliquid's total PONS open interest, and Loracle has been adding to the position, with floating losses nearing $3 million.
MLM Publicly Seeks Funding
On-chain analyst MLM posted publicly yesterday, saying "If you want to heavily short this whale, contact me privately if your funds exceed seven figures," and later added that "eight-figure level funding has already been committed." Additionally, Loracle had previously built a zero-fee fork of PONS in an attempt to mitigate losses. Loracle's current liquidation price is $1.83, meaning PONS needs to rise by 128% (without additional margin) to trigger a forced liquidation, corresponding to a market cap of $1.284 billion.
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