A whale address opened a 3x short position on PENGU, facing an unrealized loss of $10.74 million after 17 days

BlockBeats reports that on July 21, according to on-chain analyst Ai Yi (@ai_9684xtpa), address 0x670...af6e0 opened a $18.42 million PENGU 3x short position with an opening price of $0.01609 and a liquidation price of $0.04028, currently facing an unrealized loss of $10.74 million.

This is the largest PENGU contract position by size on the current Hyperliquid platform, during which the price of PENGU rose from $0.01609 to $0.03879.