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Trader Who Previously Made $2.27 Million on APE Opens 5x Leveraged LDO Long

According to Lookonchain, the wallet opened a 5x leveraged LDO long worth about $3.72 million after previously closing a larger 10.26 million LDO position with a roughly $194,000 loss.

LDO
APE

Summary

A wallet identified by Lookonchain has opened a 5x leveraged long position in LDO worth about $3.72 million. On-chain data cited by Lookonchain shows the address previously held a larger 10.26 million LDO long valued at about $4.58 million and later closed that trade with a roughly $194,000 loss. The same trader had earlier made $2.27 million from APE arbitrage.

Terms & Concepts
  • Leveraged long: A trading position that uses borrowed funds to increase exposure to a token’s price rise, amplifying both potential gains and losses.
  • LDO: The native token of Lido, a liquid staking protocol that issues tradable staking-related tokens.
  • APE: A cryptocurrency token associated with the Bored Ape ecosystem and traded in the digital asset market.