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New Address Takes $4.72 Million Leveraged Long Position in HYPE

Lookonchain reports a newly created address taking a substantial 10x leveraged long in HYPE tokens valued at $4.72 million, risking liquidation if the price drops to $13.681.

HYPE

Summary

Blockchain analytics platform Lookonchain identified a newly created cryptocurrency wallet opening a 10x leveraged long position in HYPE tokens. The trade involves 207,497 HYPE tokens, worth approximately $4.72 million, with a liquidation price set at $13.681. This high-risk position will be closed if the token’s price falls to the liquidation threshold.

Terms & Concepts
  • 10x Long Position: A leveraged trade where exposure is increased tenfold, amplifying potential gains and losses.
  • Liquidation Price: The specific market price where a leveraged position is forcibly closed by the exchange to prevent further losses.
  • HYPE Token: A cryptocurrency traded on blockchain networks, here serving as the asset for a leveraged trading position.