On Sept. 7, BlockBeats reported that on-chain analyst MLM said he was assembling a team to target Loracle, described as the largest PONS short on Hyperliquid, and invited large-capital participants to reach out privately. MLM later said users with seven-figure capital could contact him directly and added that the effort had already received eight-figure capital commitments. TradingBeats data showed that an address beginning with 0xefe4, tagged as a "Loracle sub-address," was holding a short position of about 25.1892 million PONS. The position was valued at roughly $21.0961 million, used 3x leverage, and accounted for about 19.1% of total PONS open interest on Hyperliquid. The address had an average entry price of about $0.6562, while PONS was quoted at $0.8374, leaving the position with an unrealized loss of about $4.5655 million. Its liquidation price was around $1.8288, meaning PONS would need to rise another 118.4% from the current price to trigger liquidation if no additional margin is posted.
BlockBeats reported on Sept. 7 that on-chain analyst MLM said publicly that he was building a team to target Loracle, identified as the largest PONS short on Hyperliquid, and invited interested users with larger amounts of capital to contact him by private message.
MLM later added that users with seven-figure capital could reach out privately for discussion, and said the effort had already secured eight-figure capital commitments.
Position data for a tagged Loracle sub-address
According to TradingBeats monitoring, an address beginning with 0xefe4 and labeled as a "Loracle sub-address" is currently holding a short position of about 25.1892 million PONS. The position is worth about $21.0961 million, uses 3x leverage, and represents around 19.1% of total PONS open interest on Hyperliquid.
The address entered the position at an average price of about $0.6562. With PONS currently quoted at $0.8374, the unrealized loss on the position stands at about $4.5655 million.
TradingBeats data also showed a liquidation price of about $1.8288 for the address's PONS short. Without adding more margin, PONS would need to climb another 118.4% from the current price to reach liquidation.
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