Crypto Whale’s Leveraged GOLD and SILVER Shorts Show More Than $8 Million Unrealized Profit

According to Onchain Lens, the positions gained value as GOLD prices fell, using 4x leverage on GOLD and 3x leverage on SILVER.

Summary

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Terms & Concepts
  • Unrealized profit: A paper gain on an open position that has not been closed, so the profit is not yet locked in.
  • Leverage: The use of borrowed exposure to amplify gains or losses; 4x or 3x leverage means market moves have a multiplied effect on the position.
  • Short position: A trade that benefits when the price of an asset falls, because the trader is positioned against the market.