Onchain Lens said the wallet built leveraged long positions in 1,036.37 BTC and 6,291 ETH after previously making more than $4 million from Bitcoin and Ethereum long and short trades.
Trader 0x50b has opened heavily leveraged bullish positions totaling $79.55 million, taking a 20x long in 1,036.37 BTC and a 23x long in 6,291 ETH, according to on-chain tracker Onchain Lens. The same wallet previously made more than $4 million from long and short trades in Bitcoin and Ethereum. Such positions are closely watched because leverage, or borrowed exposure, magnifies both gains and losses and can amplify market moves during sharp price swings.