Whale Faces $5.07 Million Unrealized Loss on Solana Short Position
A whale address has initiated large leveraged long positions in Bitcoin and Solana, setting liquidation prices at $114,560 and $231.35, respectively, reflecting heightened market risk.
BTC
SOL
Fact Check
Multiple sources (1, 11, 12) directly support the statement, providing the specific figure of a $5.07 million unrealized loss on a Solana short position. These reports cite a specific on-chain data source, "@OnchainLens". Another source (2) corroborates the existence of a large whale with a significant unrealized loss on a SOL short position during the same time frame. There is no contradictory evidence provided.
Summary
A whale address identified as 0x2226 has opened long positions on 700 BTC, valued at $82 million, with 40x leverage and 120,000 SOL, worth $29.6 million, with 20x leverage. The liquidation prices are set at $114,560 for BTC and $231.35 for SOL, showcasing a high-risk strategy in volatile markets.
Terms & Concepts
- BTC: The abbreviation for Bitcoin, a decentralized digital currency that operates on a peer-to-peer network and is commonly used as a store of value or a medium of exchange.
- SOL: The native token of the Solana blockchain, often used for transaction fees and staking within its ecosystem.