During Market Closure, On-Chain Precious Metals Surge Due to Safe-Haven Demand, Gold's Top Bull "Loracle" Sees Unrealized Gains of 27%

BlockBeats News, February 28th, according to Coinbob Popular Address Monitor data, due to the deterioration of the US-Iran situation, safe-haven asset on-chain precious metal contracts led the gains during the market closure. Gold briefly rose to $5386 per ounce, and silver briefly rose to $96.3.

Currently, the largest long position in on-chain PAXG (on-chain gold), "Hyperliquid early contributor Loracle," has seen its unrealized profit increase to $460,000 (approximately 27%), with a position size of $8.42 million and an average price of $5047.

Loracle (X: loraclexyz), originally named Laurent Zeimes, 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.