A certain whale closed their ETH long positions at a loss and switched to longing PEPE, with holdings reaching $12.8 million, making them the largest PEPE long position holder on-chain.

BlockBeats News, January 4, according to monitoring by Hyperinsight, a new whale address (0x727) closed and stopped loss on an ETH long position in the early hours of yesterday, recording a loss of about $470,000. The previous position size was about $15.57 millions. The funds were then used to open a 3x leveraged kPEPE (PEPE mapping contract) long position, with a position size reaching $12.85 millions. There is currently an unrealized profit of $1 million (23%), with an average price of $0.0059 and a liquidation price of $0.0041. This address is currently the largest kPEPE long whale on Hyperliquid.

According to further monitoring, all kPEPE short whales on Hyperliquid with position sizes over $1 million are in a loss. The current largest short whale (0x023) has a position size of about $5.88 millions, with an unrealized loss of $710,000 (-120%), and an average price of $0.0056.