According to monitoring from Hyperinsight, ZHIPU on Hyperliquid rebounded to $149.52 on the day, marking a 31.1% rise from the session low to the high. The contract was trading at $146.71 at press time.
Earlier developments around the stock were also noted. ZHIPU completed a placement of 19.78 million new H shares on July 13. On July 17, Moonshot AI released the open-source Kimi K3 model with 2.8 trillion parameters. After the H-share placement, ZHIPU's stock price had retreated by about 50%, and part of that decline was recovered in today's move.
A contrarian short was opened during the rebound
During the latest rally, one address opened a short position in the morning against the move. The address started building the short after ZHIPU had recovered about 12% from the low, then added to the position all the way from $127.5 to $143.2.
The address currently holds a ZHIPU short using 5x isolated margin. The position value is about $198,700, the liquidation price is about $163.83, and the unrealized loss is about $14,100. The return rate shows a loss of about 38.1%, close to a 40% hit to the initial margin.
All seven new positions above $50,000 in the last two to three hours were shorts
Aside from the biggest losing address, Hyperinsight said there were seven newly opened ZHIPU positions larger than $50,000 during the rebound over the last two to three hours. All of them were shorts. Their combined position size was about $953,200, and their combined unrealized loss was about $70,800.
On the long side, among long positions above $100,000, one had a cost basis of about $149.66, only around 2% above the current price. The largest long still under the main pressure was near $159.41, while the current price had already moved back above the entry levels of the other four large longs.