Whale boosts BTC and SOL leveraged longs to $71.2 million

PANews, citing Onchain Lens, said newly created wallet 0xE06 expanded into a $66 million 20x BTC long and a $5.2 million 10x SOL long while keeping a $7.16 million HYPE short.

BTC
SOL
USDC

Summary

A large crypto trader identified by PANews, citing Onchain Lens, as newly created wallet 0xE06 increased leveraged bullish exposure to Bitcoin and Solana while maintaining a bearish HYPE position. PANews first reported on July 2 that the wallet deposited about $2.27 million in USDC and 21.14 BTC worth about $1.27 million and opened a 20x long on 230,583 SOL with notional value of about $18.1 million. On July 3, PANews said the wallet held a 20x long on 1,072 BTC worth $66 million, a 10x long on 64,339 SOL worth $5.2 million, and a 10x short on 106,994 HYPE worth $7.16 million, for total listed exposure of $78.36 million and combined BTC and SOL long exposure of $71.2 million.

Terms & Concepts
  • 20x leveraged long: A borrowed bullish position magnified 20 times, increasing both potential gains and liquidation risk.
  • 10x short: A leveraged position designed to profit if an asset's price falls, using 10 times exposure.
  • notional value: The total face value or market exposure of a derivatives position.