SPCX Drops 10.3% on July 2, Largest Long Position on Hyperliquid 5.7% Away From Liquidation

According to BlockBeats, on July 2, SpaceX token (SPCX) fell 10.3% on Hyperliquid to $156.93, retreating roughly 22% from its June 16 peak of $225.64. The token's thin public float—approximately 4-5%—has magnified selling pressure amid market-wide losses in AI-related assets.

The largest long whale on Hyperliquid holds 86,748.6 SPCX with 10x leverage, worth $13.62 million, at an average entry price of $164. With liquidation price at $148, the position is now underwater by $370,000 and sits just 5.7% above liquidation.