Whale’s Solana Long Positions Exceed $10 Million, Total Holdings Top $460 Million
A whale with leveraged positions in SOL, ETH, and HYPE now faces over $20M in unrealized losses, ending a winning streak maintained since mid-October.
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Summary
A cryptocurrency whale, who had maintained a 100% winning streak since October 11, is now facing more than $20 million in unrealized losses amid market declines. The whale’s portfolio, valued at approximately $168 million across leveraged positions, includes a 10x long on Solana (SOL), a 15x long on Ethereum (ETH), and a 5x long on HYPE tokens. The downturn marks a reversal of prior consistent gains for this high-profile trader.
Terms & Concepts
- Whale: A term used in cryptocurrency markets to describe an individual or entity holding large amounts of a particular asset, often capable of influencing market movements.
- Long Position: An investment strategy where an investor buys and holds an asset anticipating its value will rise over time.
- Leveraged Position: An investment strategy using borrowed funds to amplify potential returns, which also increases the risk of larger losses.