HyperInsight said ZHIPU fell before the Hong Kong stock market open, touching a low of $120.7 within about an hour, down roughly 17%, with losses continuing during the session. The move has put pressure on the token’s largest long holder, a whale currently running a 10x isolated long position of 7,300 contracts. The position is valued at about $905,000, with an entry price of $174.2 and a liquidation price near $78.3. Unrealized losses stand at around $367,000.
According to the same monitoring data, the position’s return rate shows a loss of about 288.2%, equal to 2.88 times the whale’s initial capital outlay of $127,000. The trader first opened the long near $198.45 on the evening of July 6 and has not sold so far. At 10:12 today, the whale was still adding exposure, buying another 409.1 contracts at $129.6. On the company side, ZHIPU completed a placement of 19.78 million new H shares on July 13. On July 17, Moonshot AI released the open-source 2.8-trillion-parameter Kimi K3 model, and ZHIPU’s Hong Kong-listed shares fell 28.49% that day. As of publication, no new company-level negative surprise had been seen today.
According to HyperInsight, ZHIPU fell before the Hong Kong stock market open and dropped to as low as $120.7 within about one hour, a decline of roughly 17%. Losses continued during Hong Kong trading.
Recent developments around the stock
On the news front, ZHIPU completed a placement of 19.78 million new H shares on July 13. On July 17, Moonshot AI released Kimi K3, an open-source model with 2.8 trillion parameters, and ZHIPU’s Hong Kong-listed shares fell 28.49% that day. As of publication, no new company-level negative surprise had been seen today.
Details of the largest long position
ZHIPU’s largest long whale is currently holding a 10x isolated long position of 7,300 contracts, with the position valued at about $905,000. The average entry price is $174.2, the liquidation price is about $78.3, and the unrealized loss stands at roughly $367,000. Based on return rate, the position is down about 288.2%, equal to 2.88 times the trader’s initial capital deployment of $127,000.
The whale first opened the long near $198.45 on the evening of July 6 and has not sold so far. At 10:12 today, the trader was still adding to the position, buying another 409.1 contracts at $129.6.
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