Whale Opens $22.8M 16x Leveraged Gold Long After Price Hits $4,900

A major trader expanded gold positions amid a rally to $5,050/oz, boosting gains and securing one of Hyperliquid’s largest PAXG longs.

ETH

PAXG

42d ago

Summary

On February 4, Hyperinsight data revealed that a large trader entered PAXG longs at $4,839 during gold’s rally, achieving a $150,000 profit (+49%) as gold rose to $5,050/oz. The address now holds about $3.1 million and ranks as the second-largest PAXG long position on Hyperliquid. This development follows the trader’s earlier $22.8 million leveraged gold entry after closing significant Ethereum holdings, marking a notable shift from cryptocurrency to precious metals.

Terms & Concepts

Leveraged Long Position: An investment strategy using borrowed funds to increase exposure to an asset, aiming for amplified returns but with higher loss risk.
PAXG: PAX Gold, a digital asset backed by physical gold, issued by Paxos, with each token representing one fine troy ounce of gold stored in secure vaults.