Crypto whale bets $24M on Solana, Ethereum: Are al
A whale opened a massive $24.34 million exposure, covering a 20x leveraged Solana [$SOL] and 25x Ethereum [$ETH] positions.
While this may be read as a bullish conviction on these two altcoins, the trade was not wholly playing as the whale expected. As of writing, the whale had closed out the $ETH trade, netting $14.2K.
Only the $SOL long position, worth $16.5M, remained open as of press time. But the trade had an unrealized loss of $616.2K. This followed $SOL’s sharp 4% price drop on the 23rd of June. At the time of writing, $SOL traded at $68.9, just an inch away from its liquidation price of $67.9.
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