A large crypto holder, often called a whale, opened a $12 million long position in MEGA using 2x leverage after closing a short position in Ethereum, according to Onchain Lens. The MEGA trade has recorded an unrealized, or floating, loss of more than $840,000 over the last three days. The move highlights how leveraged trading (borrowing funds to amplify exposure) can quickly magnify losses when price action moves against a trader.