Hyperliquid trader holds $6.33M short on 11.7M PONS with $1.01M unrealized profit
- —Short position covers about 11.7 million PONS, valued at $6.33 million
- —Unrealized profit stands at $1.01 million with an average entry of $0.63
- —It is the largest PONS short on Hyperliquid
- —Leverage on the PONS contract is capped at 3x; profit is not yet realized
Why it matters: A large concentrated short could amplify downside pressure on PONS or trigger a short squeeze if price rallies.
Source: TokenPost