On September 5, trader Loracle used 3x leverage to short CASHCAT and PONS, with the combined value of the short positions at about $20.79 million and unrealized losses widening to more than $6.3 million. According to BlockBeats On-chain Detection, the CASHCAT short was valued at about $5.7 million, opened at an average price of $0.23, and was showing an unrealized loss of about $496,000.

The PONS short was valued at about $15.09 million, opened at an average price of $0.54, and was showing an unrealized loss of about $5.839 million. TradingBeats, an on-chain perpetuals and address analysis tool, has launched and supports real-time Hyperliquid data viewing, from address tracing to whale activity analysis.