Woofun AI reports that ZHIPU prices on Hyperliquid fell sharply before the Hong Kong market open, hitting a low of $120.7 within an hour, marking a 17% decline. This movement coincided with ongoing concerns regarding competition from the Kimi K3 model and recent H-share placements.

On-chain data reveals a leading whale (0xddb) holding a 10x leveraged long position worth approximately $905,000. With an average entry of $174.2 and a liquidation price near $78.3, the position shows an unrealized loss of $367,000, equating to a -288.2% return. Despite these losses, the entity continued adding 409.1 contracts at $129.6 against the trend.