「Loracle」 reduced their HYPE long position near $30 to take short-term profits, lowering their position by over $20 million.

BlockBeats News, February 24th, according to Coinbob Popular Address Monitoring, "Hyperliquid Early Contributor Loracle" began to trim his long position for the first time on February 21st when the HYPE price returned above $30. As of now, his position has decreased from around $46.2 million to $26.1 million, a reduction of over 43%. Today, he is still continuing to slightly reduce his position. Currently, he holds a 5x leveraged HYPE long position with an average price of $24.55, with an unrealized profit of approximately $1.51 million.

This position was established on January 12th at an average price of $22 and was subsequently rolled over gradually. The position size once reached $52 million, with a peak unrealized profit of over $16 million, and at one point became the largest long position on-chain of HYPE.

Loracle (X: loraclexyz), originally named Laurent Zeimes. He is active in the Hyperliquid ecosystem and is considered one of the early contributors, the founder of Hypurrfun, and recently active in the Hyperliquid contract market.