Onchain Data Shows $61.77 Million Leveraged SOL Short with $13.62 Million Unrealized Gains

Onchain Data Shows $61.77 Million Leveraged SOL Short with $13.62 Million Unrealized Gains

Blockchain data reveals address 0x35d1 has boosted its short exposure on Solana, maintaining a high-risk leveraged strategy amid volatile market movements.

SOL

Fact Check
The statement is highly likely to be true based on strong, consistent evidence from multiple credible sources. The core claims of the statement—a $53 million leveraged short position on SOL with an $11.5 million unrealized gain, verifiable on-chain—are directly and precisely corroborated by several sources.Strong corroboration exists for the exact figures. The primary source, an on-chain analysis account (@OnchainLens), provides a perfect match for all details. This is further confirmed by news tickers from two separate cryptocurrency exchanges, Phemex and KuCoin, which both report the identical numbers: a $53 million short position on SOL with an $11.5 million profit. Another article from Phemex also confirms the existence of the $53 million short position.The claim that this is verifiable through on-chain data is inherently supported by the nature of the primary sources (@OnchainLens, @lookonchain), which specialize in analyzing and reporting such data. The existence of platforms like Santiment further substantiates that the tools for such verification are publicly available.There is one piece of conflicting information from Blockchain Reporter, which, while confirming the $53 million short position, reports a profit of over $20 million. This is not a strong contradiction. For a leveraged position, unrealized gains fluctuate with the market price of the underlying asset. It is highly plausible that the $11.5 million and $20 million figures represent the profit at two different points in time, rather than a factual error. This discrepancy, in fact, reinforces the idea that a real, active trade is being monitored.Irrelevant sources concerning a different liquidation event, technical documentation, and an academic paper were disregarded as they do not bear on the specific claims being assessed. The weight of the directly relevant and highly credible evidence strongly supports the statement's truthfulness.
Summary

Onchain analysis shows address 0x35d1 has placed a 455,000 SOL short at $165.5 using 20x leverage, representing a nominal $61.77 million position. The trade currently holds approximately $13.62 million in unrealized profit. This activity underscores the address’s continued preference for large-scale, high-leverage positions in the cryptocurrency market.

Terms & Concepts
  • SOL: The native cryptocurrency of the Solana blockchain, used for transactions and staking.
  • Short Position: A trading strategy that profits from a decline in an asset's price by selling borrowed units and repurchasing them later at a lower price.
  • Leverage: The use of borrowed funds to increase the potential return of an investment, which also amplifies risk.