A PONS short position opened by trader Lorale has turned profitable, according to Arkham monitoring. According to Foresight News, Lorale holds a $16.3 million PONS short on Hyperliquid, representing 17.5% of PONS open interest across the network.

The position was opened 9 days ago at an average price of $0.44 and was added to as PONS climbed to an all-time high of $0.97. At one point, the unrealized loss on the trade exceeded $8 million. The short position is now showing a realized profit of $2.18 million.