Loracle, an early contributor to Hyperliquid, has opened short positions in BTC and ETH totaling $56 million, bringing his total open interest to over $110 million.

According to Mars Finance, on February 4th, Coinbob's hot address monitoring showed that "Loracle, an early contributor to Hyperliquid," opened 20x leveraged short positions in BTC and ETH with a total of 56 million USD. Both short positions have already incurred floating losses. Currently, he has placed short orders of approximately 6.2 million USD in the ETH price range of approximately $2400 to $2440 USD, which have not yet been filled. In addition, he simultaneously opened a 10x leveraged long position in PAXG (on-chain gold) during the rise in spot gold. The main holdings are as follows: HYPE (5x long position): Position size approximately $49.67 million USD, average price $24.37 USD, floating profit approximately $13.63 million USD (+137%). ETH (20x short position): Position size approximately $29.49 million USD, average price approximately $2207 USD, floating loss approximately $930,000 USD (-64%). BTC (20x short): Position size approximately $27.08 million, average price approximately $74,467, unrealized loss approximately $737,000 (-56%). PAXG (10x long): Position size approximately $3.02 million, average price approximately $4,985, unrealized profit approximately $63,000 (+20%). Compared to yesterday, its account position size increased from $50 million to $110 million. Currently, the unrealized profit of the HYPE long position has decreased by approximately $6 million compared to yesterday. This large-scale establishment of BTC and ETH short positions may be intended to hedge against its huge HYPE long positions. It is currently still the largest long whale in the on-chain HYPE market.