Whale Realizes $5M Profit Selling HYPE, Moves Funds to Solana
Whale address 0xC50a expanded aggressive trading activity, opening leveraged BTC and HYPE positions worth $29M within 12 hours, alongside prior multi-million-dollar asset shifts to Solana.
BTC
SOL
USDC
Summary
In the latest activity tracked by Lookonchain, whale address 0xC50a opened a 40x long position on 149 BTC valued at approximately $16.6 million and a 10x long position on 284,501 HYPE worth about $12.5 million within a 12-hour window. These leveraged positions total more than $29 million and follow earlier substantial transactions, including selling millions of HYPE tokens for USDC and converting funds to Solana’s SOL, indicating an aggressive and diversified trading strategy across multiple cryptocurrencies.
Terms & Concepts
- Whale: A market participant holding large amounts of a cryptocurrency, capable of influencing price movements when buying or selling.
- SOL: The native cryptocurrency of the Solana blockchain, used for transactions, staking, and smart contract execution.
- Leverage: Using borrowed funds to increase potential returns from an investment, often expressed as a multiple such as 10x or 40x.