Liquidation of $42 million HYPE Spot Only to Long Gold? "Trader Loracle" Sub-Account Profits $2 million

August 10, according to TradingBeats (formerly Hyperinsight) monitoring, the GOLD contract on Hyperliquid is currently trading at $4327.6, only about 0.8% below the recent 7-day high of $4363, and still maintaining its high position.

The 24-hour trading volume of GOLD is approximately $31.989 million, with an open interest value of about $335 million; the current hourly funding rate is about +0.000625%.

An address starting with 0xefe is currently long with 20x leverage on 10,528.2 GOLD, with a position value of about $45.561 million, an entry price of $4137.9, an unrealized profit of approximately $1.996 million, and a return rate of about 91.6%. Gold accounts for 61.2% of its total contract position value, making it the address's largest single direction and the platform's largest gold long.

On-chain data shows that this address is highly related to the well-known trader Loracle. From the night of July 30 to the early morning of July 31, its main address successively transferred 20 million USDC and 75.46k HYPE to 0xefe, the latter valued at approximately $42.165 million at the time of transfer, with the total value of the two assets totaling around $62.165 million.

Further tracking shows that on May 29, the address 0xfae95f transferred 892.5k HYPE from HyperEVM to HyperCore, then the original amount was sent to the Loracle address 0x8def; on July 31, 0x8def then transferred 75.46k to the new address 0xefe.

Upon receiving 75.46k HYPE, it completed a full liquidation on August 4 and continued to heavily long gold with the proceeds. It initially held about 5746.9 GOLD, with a cost of about $23.412 million and an average price of only $4073.9; it then increased its position in two more rounds:

- Bought 2447.1 GOLD at an average price of $4086.5, with a transaction volume of about $10 million;

- After the gold price rose to a high, it further bought 2334.2 GOLD at an average price of $4349.6, with a transaction volume of about $10.153 million.

The total cost of the three rounds of investment is approximately $43.565 million, equivalent to about 70.1% of the initial asset value. Currently, there is a floating profit of approximately $2 million, mainly contributed by the early base position near $4074 and additional positions near $4086, with the recent trailing position near $4349 still experiencing a slight floating loss. There are currently no effective reduction or take-profit orders set for GOLD.