$1.7 Million Loss: TechnoRevenant-Linked Wallet Acquires 136 Million PAPER, Becoming Second-Largest Holder

Odaily News: A wallet linked to TechnoRevenant staked 744,000 HYPE on Hypercore, borrowed 3 million USDC, and subsequently lost $1.7 million on Papertrade, thereby acquiring 136 million PAPER and becoming the second-largest PAPER holder, as well as the trader with the largest realized perpetual contract loss on the platform.

As of now, the wallet has recovered 1.051 million USDC through staking rewards, with a net loss of approximately $650,000. Before accounting for staking rewards, its average PAPER cost was approximately $0.0125 per token, the highest among the top five holders.