Floating loss of approximately $1.24 million, a whale's SPCX long position return rate hits -174.5%

Odaily Planet Daily News According to Hyperinsight monitoring, since first establishing a long position in SPCX on July 16, the whale at address 0x3527 has been chasing the decline to average down costs, increasing positions daily. Currently, the whale holds a 20x full-margin long position in SPCX, with an average price of $127.1 and a position value of approximately $12.958 million. The floating loss is about $1.238 million, with a return rate of -174.5%, and the loss has already exceeded the initial margin for this position.

Calculated based on margin, the theoretical liquidation price is approximately $113.06, which is only about $2.94 away from the current price. However, this address has already activated a portfolio margin; 301,900 HYPE (with approximately 60,000 newly added recently) are included as collateral to jointly support the SPCX loss. The risk lies in the fact that when HYPE and SPCX fall simultaneously, the collateral value and position equity shrink in both directions, and upon triggering the threshold, the system may dispose of the HYPE collateral.

As of press time, SPCX on Hyperliquid is quoted at approximately $116, down 49.6% from its high of $230, and 14.1% below its IPO price of $135. Today, it touched a low of $114.48, with the drop below the issue price once expanding to 15.2%.