During the market closure, on-chain precious metals surged due to hedging demand, with the largest gold bull "Loracle" achieving a floating profit of 27%.

BlockBeats News, February 28, according to Coinbob Hot Address Monitor, due to the deteriorating situation between the US and Iran, on-chain precious metal contracts for safe-haven assets led the gains during the market closure. Among them, gold briefly rose to $5,386 per ounce, and silver briefly rose to a price of $96.3.

Currently, the largest long position in on-chain PAXG (on-chain gold), held by "Hyperliquid early contributor Loracle," has expanded its unrealized profit to $460,000 (about 27%), with a position size of $8.42 million and an average price of $5,047.

Loracle (X: loraclexyz), whose real name is Laurent Zeimes, is active in the Hyperliquid ecosystem and is regarded as one of the early contributors. He is the founder of Hypurrfun and has recently been active in the Hyperliquid contract market.