Svmuu News: According to Hyperinsight data, since first opening a long position in SPCX on July 16, the whale associated with the address 0x3527 has been averaging down throughout the price decline, increasing their position daily. Currently, this whale holds a fully leveraged 20x long position in SPCX at an average price of $127.1, with the position valued at approximately $12.958 million; The unrealized loss stands at approximately $1.238 million, with a return on investment of -174.5%; the loss has already exceeded the initial margin for this position.
Based on margin calculations, the theoretical liquidation price is approximately $113.06, just $2.94 away from the current price; However, this address has actually enabled cross-margin, with 301,900 HYPE (approximately 60,000 added recently) included as collateral to help offset the SPCX loss. The risk lies in the fact that when both HYPE and SPCX fall in value, the collateral value and position equity contract simultaneously; furthermore, once the trigger threshold is reached, the system may liquidate the HYPE collateral.
As of press time, SPCX is trading at approximately $116 on Hyperliquid, down 49.6% from its high of $230 and trading at a 14.1% discount to its IPO price of $135; It hit a low of $114.48 today, with the discount to the IPO price briefly widening to 15.2%.