Overnight Perpetual On-Chain Oracle Contract Premium 12%, Crypto Key Opinion Leader "CBB" and another short whale position both experienced significant retracement

BlockBeats News, March 11th, according to Hyperinsight Monitoring, today's Oracle (ORCL) closed down 1.4% to $149, but witnessed a significant surge of 12.2% in after-hours and overnight trading. As a result, the price of the ORCL synthetic asset on Hyperliquid surged in sync, rising over 12% in a short period, currently at $167.4, representing a premium of over 12% from the closing price.

During this surge, the whale holding a short position of over a million dollars on Hyperliquid — Crypto KOL "CBB" and "On-chain Shareholder" both suffered losses. Both had previously established 3x leveraged ORCL short positions near $154, with positions of around $1.1 million each. As the contract price surged, their short positions went from profit to loss, with drawdowns of over 20% each.