The largest long position holder of on-chain ZHIPU is less than $27 away from liquidation, with unrealized loss expanding to 63.5%.

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BlockBeats news, June 29, according to Hyperinsight monitoring, ZHIPU has dropped 28% from its high in the past week, temporarily reported at $251 on Hyperliquid, with a 24-hour decline of 3.8%.

As the price fell from its high, the largest long position holder of ZHIPU on the platform is approaching liquidation, currently only $27 away from the liquidation price, with the liquidation price at $224. The whale opened a $1.01 million long position on June 26, with an average entry price of $268.58, and the floating loss has now reached 63.5%.

The recent market pressure mainly comes from the unlocking of cornerstone investors' shares on July 8. At that time, the number of freely circulating shares is expected to increase by approximately three times compared to the current level, and the market is concerned about potential selling pressure.

ZHIPU-5.05%
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