The largest long position holder in the on-chain intelligence ZHIPU is less than $27 away from liquidation, with the unrealized loss already expanded to 63.5%.

BlockBeats News, June 29th, according to Hyperinsight Monitoring, the Smart Spectrum (ZHIPU) has fallen 28% from its recent high in the past week, temporarily trading at $251 on Hyperliquid with a 3.8% 24-hour decline.

Alongside the price drop from its peak, the largest long position holder of ZHIPU on the platform is approaching liquidation, with the current liquidation price at only $27, and the liquidation price set at $224. This whale opened a $1.01 million long position on June 26th, with an average entry price of $268.58, currently facing an unrealized loss of 63.5%.

The recent market pressure mainly stems from the cornerstone investors' share unlock on July 8th. At that time, the number of freely tradable shares is expected to increase by about three times from the current level, raising concerns in the market about potential selling pressure.