SPCX has fallen about 4.8% from its first-day opening price of $150, according to monitoring data from Hyperinsight cited by BlockBeats on July 13. The token was issued at $135, meaning it had opened at an 11.1% premium, and roughly half of that premium has now been erased as the price fell to around $142.80.
The pullback has pushed all whale longs on Hyperliquid into unrealized losses, Hyperinsight said. One address beginning with 0x8e0, which started building a long position on the day SPCX was added to the Nasdaq index, is still holding a 20x leveraged long worth about $1.985 million. As of publication, the position had an average entry price of $153.68, an unrealized loss of roughly $151,000, and a return rate of about -141.7%.
Its liquidation price was about $137.98, leaving it just $4.82 away from liquidation and making it the closest-to-liquidation address on the platform. Data also showed the whale had been buying SPCX continuously since July 7, executing 190 trades to open a total of 13,903.45 contracts at prices ranging from $145.99 to $156.22, with total turnover of about $2.137 million and no active long reductions recorded during the period.
SPCX gives back part of its day-one premium
SPCX has dropped about 4.8% from its first-day opening price of $150, according to Hyperinsight monitoring cited by BlockBeats on July 13. The token was issued at $135, leaving it now just $7.8 above the issue price.
At the open, SPCX traded at roughly an 11.1% premium to the issue price. That premium has now been cut by nearly half.
Whale longs on Hyperliquid are now underwater
Hyperinsight said whale accounts long SPCX on Hyperliquid have all moved into unrealized losses. Among them, one address starting with 0x8e0, which began going long on the day SPCX was included in the Nasdaq index, is still holding a 20x leveraged long position worth about $1.985 million.
As of publication, the position's average entry price stood at $153.68, while SPCX was quoted at about $142.80. The unrealized loss was about $151,000, and the position return rate was about -141.7%.
0x8e0 address sits $4.82 from liquidation
The position's liquidation price was about $137.98, only $4.82 below the current price, making it the closest-to-liquidation address on Hyperliquid at the time of publication.
Data showed the whale had been buying SPCX continuously since July 7, logging 190 trades and opening a total of 13,903.45 contracts. The fills were completed between $145.99 and $156.22, with cumulative turnover of about $2.137 million. No active long-closing trades were recorded during that period.
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