ZHIPU Plunges, Leaving Largest Bull with $1.04 Million in Unrealized Losses, Holding Nearly 30% of Bullish Positions in That Market

BlockBeats news, September 23, according to TradingBeats monitoring, the largest ZHIPU long position holder (0x8b3) on Hyperliquid currently holds approximately 74,200 ZHIPU long contracts, with a position value of about $6.21 million, an average entry price of about $97.73, and an unrealized loss of about $1.04 million, making it the address with the largest unrealized loss among current ZHIPU whales.

During the same period, the one-sided open interest of ZHIPU contracts is approximately 273,300 contracts, and this address already accounts for about 27.1% of the total long positions in the market.

It is reported that this address continued to expand its long exposure during this round of price decline. After briefly realizing a loss on September 17, it continued buying at around $94 to $94.98 from September 18 to 20, adding a cumulative total of about $2.88 million in long positions, expanding its holdings from about 43,600 contracts to 74,200 contracts, an increase of about 70%. As ZHIPU further dropped to about $83.7, this newly added batch of positions alone has already incurred an unrealized loss of about $320,000.

Previously, this whale executed a similar contrarian add-on behavior in another large altcoin long position, and was also the largest unrealized-loss long holder of PONS. On September 10, it once held about $4.257 million in PONS long positions, with an average price of about $0.8598, and an unrealized loss of about $1.701 million, and continued to add about $1 million in positions while the position was underwater, and has now fully stopped out.