Night trading on-chain oracle contract premium reaches 12%, with significant drawdowns in positions held by crypto KOL "CBB" and another major short whale

BlockBeats News, March 11, according to Hyperinsight monitoring, Oracle (ORCL) closed down 1.4% today at $149, but surged 12.2% in subsequent after-hours and night trading. As a result, the ORCL mapping contract price on Hyperliquid soared in sync, rising more than 12% in a short period, currently quoted at $167.4, a premium of over 12% compared to the closing price.

During this round of surge, two whales with short positions exceeding 1 million on Hyperliquid—crypto KOL "CBB" and "On-chain Stockholder"—both suffered losses. Both had previously set up 3x leveraged ORCL short positions around $154, with each holding about $1.1 millions. As the contract price jumped, their short positions turned from profit to loss, with a drawdown of over 20% for both.