The token fell to an intraday low of $132.34 before rebounding to $135.5, while the 0x91d-address held 12,085 longs entered at an average $183.2.
SPCX continued to slide on July 16, dropping to an intraday low of $132.34 before recovering to $135.5 by publication, Hyperinsight said. The move left a large leveraged position on Hyperliquid, a decentralized perpetual futures platform, deep underwater. The 0x91d-address was holding 12,085 SPCX long positions with an average entry price of $183.2, translating to about $577,000 in unrealized losses at publication after briefly widening to $616,000. Its roughly $509,900 in margin, or collateral backing the trade, was fully tied to keeping the position open.