The whale known as *Loracle* — or http://loracle.hl on Hyperliquid — is back to shorting altcoins, and this time the book is massive.
According to on-chain tracking by Hyperbot and Lookonchain on Sept 23-24, Loracle holds *$79.385 million in combined short exposure* across crypto and U.S. equities.
Breakdown of the portfolio:
- *$ENA (Ethena)* — short
- *NEAR Protocol (NEAR)* — short
- *HYPE (Hyperliquid)* — short, size ∼$7M, entry $53.97, liquidation at $136.56, unrealized loss ∼$2.91M as of Sept 19
- *CASHCAT* — short (new meme listing on Hyperliquid)
- *PONS* — *3x leveraged short, 984,765 tokens*. This is the one trade that just flipped green. After adding for two straight days, Loracle is up ∼$55K-$57K on it.
- *U.S. stocks:* SanDisk ($28M short, entry $1,485.67, liq $2,552.96, down $4.67M), Nvidia, and Micron
On the other side: a *20x leveraged long in Gold worth ∼$41 million*, currently down nearly $1M.
Overall, the address is *down about $7.75 million, -41% ROI* in this cycle, despite the PONS win.
This is a familiar playbook for Loracle. Earlier this year he was the largest on-chain $HYPE long — $54.7M with $18.6M unrealized profit — running a hedge: *long HYPE, short BTC and ETH*. He closed ∼$56M of shorts in one day for $6M+ profit, then flipped back to shorts.
He's also known for brutal HYPE short losses. In August, Lookonchain flagged he had lost *over $70M shorting HYPE over three months*, holding 685,744 HYPE short ($54.88M notional) with liquidation at $101.15. At one point his HYPE short ballooned past $100M with $23M underwater and liquidation at $69.49 — a level the market watched like a short-squeeze trigger.
Now the focus is different. Traders are watching whether ENA and NEAR follow HYPE's squeeze pattern.
$ENA is up 18% in September on stablecoin growth; NEAR is lagging with AI narrative fatigue. Both are thin liquidity on perps — exactly the kind of names Loracle likes to short into strength.
If PONS continues to bleed, that small $55K win could fund his wider $79M hedge. If not, that $79M short wall becomes fuel for a squeeze.
Hyperliquid leaderboard still ranks him as a top-10 trader by volume, with an estimated account size of ∼$103M.
As always: it's not financial advice. It's one whale betting $79M that alt season is over.
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