Loracle's PONS short position on Hyperliquid has an unrealized loss of nearly 3 million USD

According to on-chain analyst Ai Yi's monitoring, trader Loracle has opened a 3x short position on PONS on Hyperliquid since September 3, holding 25.04 million PONS (approximately 19.41 million USD), with an opening average price of 0.6553 USD, accounting for 19% of the total PONS holdings on Hyperliquid, and is still continuously adding to the position, currently facing an unrealized loss of nearly 3 million USD. This trader has created a zero-fee fork version of Pons.

Overseas analyst @mlmabc posted on September 6 to publicly solicit funds to jointly target this short position, stating that there are already commitments of eight-figure capital. Loracle's short liquidation price is 1.83 USD, meaning PONS needs to rise another 128% to trigger liquidation. A similar hunting operation targeting 50x leveraged Bitcoin shorts on Hyperliquid in March 2025 had previously attracted attention.