TechnoRevenant-linked wallet lost $1.7 million in trading, still down about $650,000 after accounting for staking yields.

October 13, according to Mlm on chain monitoring, a wallet associated with TechnoRevenant used 744,000 HYPE (worth approximately $61.3 million) as collateral on Hypercore to borrow 3 million USDC, and subsequently realized a loss of $1.7 million on Papertrade. This loss earned it 136 million PAPER, making it the second-largest PAPER holder and the trader with the highest realized perpetual contract loss on the platform.

Currently, the wallet has earned 1.051 million USDC through staking rewards, but is still down approximately $650,000 overall. Before accounting for staking rewards, its average PAPER cost was approximately $0.0125, the highest among the top five wallets by holdings. In comparison, the largest PAPER holder has cumulative trading volume of $10.1 billion, with a loss of $980,000 and 252 million PAPER acquired, holding nearly twice as much as TechnoRevenant. This address has earned over $1.18 million in staking rewards, is currently profitable by approximately $200,000 overall, and its average PAPER cost is approximately $0.0039, less than one-third of TechnoRevenant's.