🚨 Huge losses for Hyperliquid investor on ZEC! 🚨
On February 15, Loracle, one of the early contributors to Hyperliquid, made a large speculative trade on ZEC using 10x leverage, with a size reaching $8.5 million and an average price of $312. This was the largest long buy order on ZEC on the blockchain.
But things didn't go as planned…
In just 10 days, the price of ZEC dropped to $237, resulting in unrealized losses of up to 316%! 😱
💡 How did Loracle handle the situation?
He started to reduce his large positions in ZEC to mitigate losses.
So far, the trade size has decreased to $1.14 million, with the liquidation continuing.
📌 Important points about Loracle:
His real name is Laurent Zeimes
Founder of Hypurrfun
One of the early contributors to Hyperliquid
Recently active in the smart contracts market for Hyperliquid
⚡ This situation reminds us of the importance of risk management and not getting caught up in large speculations, no matter how tempting the profit opportunities may seem.
🔥 Do you think Loracle will recover his losses?
Share your thoughts in the comments 👇 and don't forget to like and share with your friends interested in cryptocurrencies!
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$HYPE
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