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BNB Traders Secure $96.46 Million Profit from $493 Million Long Positions

Data shows over 1,000 traders profiting from $493 million in long BNB positions, with unrealized gains of $96.46 million, while shorts face losses.

BNB

Summary

1,057 SmartMoney traders hold long positions worth $493 million in Binance Coin (BNB) with an average entry price of $1,070.5, securing unrealized profits of $96.46 million. In contrast, 312 short traders, with $91.3 million in positions, are facing unrealized losses of $16.21 million, as per Binance data.

Terms & Concepts
  • Long Position: A trading strategy where investors buy an asset expecting its price to rise, allowing them to sell later at a profit.
  • On-Chain Data: Information directly retrieved from a blockchain that reflects transactions, holdings, and market activity without relying on external sources.
  • BNB: Binance Coin, the cryptocurrency issued by Binance, used for trading fee discounts and other functions within the Binance ecosystem.