ZHIPU Plunges Over 17% on Hyperliquid; Major Whale Down 288.2% Yet Adds 409 Contracts

According to Hyperinsight monitoring, ZHIPU dropped sharply over 17% on Hyperliquid on July 20, hitting a low of $120.7 within one hour before Hong Kong market open, with declines extending into the afternoon session.

A major whale (starting with 0xddb) holding 7,300 contracts in 10x leveraged long positions saw losses deepening. With a current position value of approximately $905,000, an average entry price of $174.2, and liquidation price around $78.3, the whale faces unrealized losses of $367,000, representing a -288.2% return on its initial $127,000 investment. Despite the losses, the whale continued averaging down at $129.6, adding 409.1 contracts.